Multifamily Property for Sale at 1 Audubon Avenue

The New York Multifamily Team at Marcus & Millichap is pleased to present the following opportunity: 1 Audubon Avenue. Situated on the corner of Audubon Avenue and W 165 Street, this Washington Heights walk-up is comprised of 56 apartments and 4 ideally positioned retail spaces. Spanning 40,122 square feet, this building has been meticulously maintained and professionally managed by the same ownership for 20 years.

Additionally, this opportunity offers investors the chance to acquire a well-maintained asset in a highly desirable submarket of Upper Manhattan, with future rental upside from a $140,426 annual preferential rent delta between actual and DHCR- registered rents.

1 Audubon Avenue is conveniently located across the street from New York Presbyterian and Columbia University Medical Center. It is also just steps from Mitchell Square and the 168th Street A and C trains

• This 60-unit walk-up comprises 17 studio, 33 one-bedroom, and 5 two-bedroom apartments.
• This asset is further complemented by 4 ground-floor retail units.
• 5.7x GRM | | $92,500 Per Unit | $138 Per Sqft
• 1 Audubon Avenue benefits from prime retail frontage on a highly sought-after retail corridor in Upper Manhattan
• Four units are currently occupied by a barbershop, juice bar, drug store, and dentist
• 1 Audubon Avenue is just steps from New York Presbyterian / Columbia University Medical Center, Mitchell Square, and the 168th Street A and C trains.