327 E 14th St 9 Unit Apartment Building $4,300,000 ($477,778/Unit) 4.88% Cap Rate New York, NY 10003
INVESTMENT HIGHLIGHTS
- 11 Residential units 9 of them are Free Market & 2 are Rent-stabilized
- Cash-flowing asset with immediate upside
- Prime East Village location 14th St between 2nd & 1st Ave 2 blocks from Union Square
- 81.82% Free Market
- Under market-rate Rents
EXECUTIVE SUMMARY
The Corcoran Group has been exclusively retained to offer for the sale of 327 East 14th St a 5-story residential building In the heart of the East Village.
The Property spans 5,431 square feet across Eleven (11) residential units. Of the residential units, Nine (9) are free market and Two (2) are rent stabilized.
This property offers investors the rare opportunity to acquire a majority free market asset in the East Village section of Manhattan, New York with lots of upside potential (Rents are currently below market rate)
The property is located in Prime East Village location 14th St between 2nd & 1st Ave 2 blocks from Union Square, location provides convenient access to public transportation, including major subway lines, bus routes, and bike lanes, as well as an array of dining & Trader Joes, Whole foods, Union Square park, Mount Sinai Hospital,NYU,Parsons, etc
Public Transportation
First Avenue Train Station- L Train /M15 Select Bus ,M14D , M14A
Union Square Train Station- 4,5,6,N,Q,R,W,L Trains
The Property spans 5,431 square feet across Eleven (11) residential units. Of the residential units, Nine (9) are free market and Two (2) are rent stabilized.
This property offers investors the rare opportunity to acquire a majority free market asset in the East Village section of Manhattan, New York with lots of upside potential (Rents are currently below market rate)
The property is located in Prime East Village location 14th St between 2nd & 1st Ave 2 blocks from Union Square, location provides convenient access to public transportation, including major subway lines, bus routes, and bike lanes, as well as an array of dining & Trader Joes, Whole foods, Union Square park, Mount Sinai Hospital,NYU,Parsons, etc
Public Transportation
First Avenue Train Station- L Train /M15 Select Bus ,M14D , M14A
Union Square Train Station- 4,5,6,N,Q,R,W,L Trains
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $4,300,000 |
| Price Per Unit | $477,778 |
| Sale Type | Investment |
| Cap Rate | 4.88% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.05 AC |
| Building Size | 5,431 SF |
| No. Stories | 5 |
| Year Built | 1910 |
| Zoning | C1-6A |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | - | 642 |
| 2+1 | 1 | - | 906 |
| Studios | 1 | - | - |
1 of 1
Walk Score®
Walker's Paradise (100)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (97)
PROPERTY TAXES
| Parcel Number | 0921-0016 | Total Assessment | $605,520 |
| Land Assessment | $144,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $461,520 | Tax Year | 2024 |
