December 19, 2019 – Will Kiriazidis of Horvath & Tremblay has successfully completed the sale of four (4) multi-family units in New Rochelle, New York. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $620,000, which translates to a 5.95% Cap Rate.
The multi-family investment property, located at 88 Horton Avenue in New Rochelle, New York is comprised of four (4) multi-family units. The two-story multi-family building consists of 2,678 square feet of living area on a 0.09 acre parcel. The property, which is separately metered for hot water and electric has been well maintained and has off street parking at the rear of the building. The property features four (4) two-bedroom, one-bathroom units. The property is in a desirable, densely populated residential neighborhood in the heart of New Rochelle, a commuter city to Manhattan. The property provides convenient access to a number of highly traversed roads including I-95, the Hutchinson Rover Parkway, the Cross County Parkway and US Route 1. Additionally, the property is located less than 2.5 miles from the Metro North Train Station and the Amtrak Train Station with direct access to Manhattan’s Grand Central Station as well as Boston and Washington D.C. The Bee-Line Bus System also provides service throughout Westchester County. The property also benefits from strong demographics with more than 202,500 people with an average household income in excess of $138,000 living within a 3-mile radius.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.