Exceptional Investment Opportunity at 120 E 19th Street, New York, NY, 10003
For Sale Price: $8,950,000 ($895,000 per Unit)
Cap Rate: 5.46%
Property Type: 3-Star Mid-Rise Apartments
Building Class: B
Located in the heart of New York City’s Central Business District (CBD), this 5-story mid-rise apartment building offers an excellent opportunity for investors seeking a property with consistent income and a prime location in the coveted Gramercy Park area.
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Property Details
- Units: 10
- Total Gross Building Area (GBA): 7,500 SF
- Typical Floor Size: 1,500 SF
- Stories: 5
- Buildings: 1
- Units per Area: 189/AC
Investment Highlights
- Strong Cap Rate: With a cap rate of 5.46%, this property offers a solid return on investment, balancing stability and growth potential.
- Market Segment: The property caters to Market Rent tenants, ensuring steady cash flow in a high-demand area.
- Prime Location: Ideally situated near Gramercy Park, Union Square, and major subway lines, the property is surrounded by amenities that attract high-quality tenants.
- Versatile Appeal: The building’s 10 units make it suitable for a range of renters, from young professionals to families, ensuring high occupancy rates.
Additional Features
- Boutique Asset: A 10-unit property in this location is a rare find, providing an exclusive opportunity to own a well-maintained mid-rise building.
- Efficient Layouts: Each floor spans approximately 1,500 SF, maximizing livable space for tenants and operational efficiency for investors.
- Class B Quality: The property is in good condition with room for enhancements to increase rental income or overall asset value.
This mid-rise apartment building combines a desirable location, steady rental income, and strong investment fundamentals. With its boutique size and excellent cap rate, 120 E 19th Street is an attractive addition to any real estate portfolio.
Contact us today to learn more or schedule a private viewing of this exclusive Gramercy Park property.
