Located at 192 Orchard Street, New York, NY, 10002, this 3-star mid-rise apartment building presents a prime investment opportunity, listed for $9,500,000 ($791,667/Unit).
Property Overview:
- Price: $9,500,000
- Cap Rate: Not specified
- Units: 12
- Stories: 5
- Gross Building Area (GBA): 7,962 SF
- Typical Floor Size: 1,327 SF
- Class: B
- Units per Acre: 240/AC
- Rent Type: Market
- # of Buildings: 1
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Key Features:
- Desirable Location in CBD: Positioned in the vibrant Lower East Side, a neighborhood known for its cultural significance, entertainment, and proximity to Manhattan’s business hubs, this property is poised for consistent demand from tenants.
- Investment Potential: With 12 units spread across 5 stories, this property offers a manageable yet profitable scale for investors looking to capitalize on market-rate rents in a growing area.
- Efficient Design: The typical floor size of 1,327 SF and Class B classification suggest a building designed for practicality and low maintenance, appealing to a broad market.
- Stable Market Rent: The property’s market rent structure offers flexibility, with potential for future rent increases as the demand in this high-traffic, urban area continues to rise.
Conclusion:
This mid-rise building at 192 Orchard Street is a robust investment, providing investors with steady rental income potential and future growth. With its prime location, efficient design, and healthy rent structure, this property is an attractive option for those looking to enter or expand their real estate portfolio in the Lower East Side.
