Prime Multi-Unit Investment Opportunity – 58-60 Elizabeth Street, New York, NY
Seize the chance to own a high-performing asset in the heart of New York City’s Central Business District (CBD). This 3-star mid-rise apartment building combines a sought-after location, diversified rental options, and solid investment returns. Priced at $12,000,000, with an attractive cap rate of 6.00%, this property is a compelling opportunity for seasoned and aspiring investors alike.
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Property Details
- Price: $12,000,000 ($272,727 per unit)
- Cap Rate: 6.00%
- Units: 44 (Market/Affordable mix)
- Average Unit Size: 500 SF
- Stories: 6
- Gross Building Area (GBA): 42,630 SF
- Typical Floor Size: 6,266 SF
- Class: B
- Units per Area: 338 units per acre
Key Features
- Location, Location, Location: Situated in the vibrant CBD, the property offers tenants unmatched access to transit, restaurants, shopping, and entertainment, making it a top choice for urban professionals and families.
- Diverse Rent Types: A mix of market-rate and affordable units ensures steady income while meeting a broad tenant demand.
- Spacious Units: Average unit size of 500 SF, ideal for comfortable city living.
Investment Highlights
- Scalability: A 44-unit building with significant gross building area (42,630 SF) presents opportunities for potential upgrades or rent increases.
- CBD Appeal: High occupancy rates and demand in this prime location offer strong income stability.
- Attractive Cap Rate: A 6.00% cap rate ensures competitive returns for investors.
- Efficient Design: Functional layouts and floor plans optimize space and revenue potential.
This property at 58-60 Elizabeth Street is a unique opportunity to own a well-maintained, centrally located apartment building in one of the most desirable markets in the world. With a mix of market and affordable units, it appeals to a wide range of tenants, ensuring sustained demand and profitability.
Don’t miss this exceptional investment opportunity! Contact us today for more information or to schedule a private tour.
