Located at 114 Stanton Street, New York, NY, 10002, this 2-star mid-rise apartment building is an attractive investment opportunity in the Lower East Side. Priced at $4,650,000 (approximately $775,000 per unit), it boasts a cap rate of 4.48%, indicating steady income potential in a vibrant market.
Property Overview:
- Price: $4,650,000
- Units: 6
- Average Unit Size: 900 SF
- Gross Building Area (GBA): 6,500 SF
- Stories: 6
- Typical Floor Size: 1,417 SF
- Class: C
- # of Buildings: 1
- Units per Acre: 150/AC
- Rent Type: Market
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Key Features:
- Prime CBD Location: Situated in the heart of the Lower East Side, the property is surrounded by a mix of cultural landmarks, retail stores, and dining hotspots, ensuring high tenant demand.
- Spacious Units: With an average unit size of 900 SF, the apartments offer generous layouts, appealing to renters seeking more space in a bustling urban environment.
- Steady Revenue Potential: The 4.48% cap rate highlights consistent income, making it ideal for investors looking for stability.
- Solid Construction: Class C designation ensures a reliable structure with room for upgrades to further enhance value.
Conclusion:
The property at 114 Stanton Street presents an excellent opportunity for investors seeking to expand their portfolio with a well-located, income-generating asset in one of Manhattan’s most sought-after neighborhoods. Its combination of size, location, and revenue potential makes it a compelling investment in New York City real estate.
