Property Description for 12 West 104th Street
> Ivy League Investment!
> This 16 unit, residential building, is a superb investment property, that is well located just off Central Park West.
> This turn of the century apartment house benefits from the demand for housing in the Columbia University sphere of influence.
> You'll immediately notice how clean and well taken care of the property is.
> It features 11 renovated free market units, and 5 rent stabilized ones; leaving good opportunity for future increases in the rent roll.
> It is a five story walk-up building of approximately 10,085 square feet.
> The building is free standing and surrounded by community gardens, which not only add to the aesthetics of the site, but also allow sunlight to flood every floor.
> This creates very desirable rental product, with a low vacancy rate.
> Its rock solid, Central Park location, is adjacent to the most sought after amenity in the city.
> Generating income of $343K per year, it returns a handsome profit yearly, and is offered with a cap rate of 5.3% and great upside potential.