MultiFamily Property at 550 and 556 West 180th Street

The New York Multifamily Team at Marcus & Millichap is pleased to present 550 and 556 West 180th Street. Ideally positioned on the corner of Audubon Avenue and West 180th Street, these two contiguous walk-ups comprise 61 apartments and 1 retail unit.

With 175’ of total frontage, this opportunity offers investors the chance to acquire meticulously maintained assets in a highly desirable Upper Manhattan submarket, with future rental upside driven by a $187,000 annual preferential rent delta between actual and legal rents.

Owned and operated by the same group for over 20 years, 550 & 556 West 180th Street consist of 2 studio, 19 one-bedroom, 22 two-bedroom, and 18 three-bedroom apartments, along with 1 ground floor retail unit currently occupied by a dental clinic.

These assets are ideally located near Yeshiva University, the George Washington Bridge, the West 181 Street retail corridor, and the 181 Street train station.

• 550 & 556 West 180th Street span 68,000 square feet and consist of 2 studio, 19 one-bedroom, 22 two-bedroom, and 18 three- bedroom apartments
• 8.1% Cap Rate | 4.7x GRM | $99 Per Sqft | $84,355 Per Unit
• Experienced operators have the ability to capitalize on rent growth through an additional ~$187,000 per year of preferential rent
• Ideally located near Yeshiva University, the George Washington Bridge, the West 181 St retail corridor, and the 181 Street train station. st station