Investment Opportunity in Midtown Manhattan
Address: 520 9th Ave, New York, NY, 10018
Price: $5,500,000 ($1,375,000/Unit)
Type: 2-Star Mid-Rise Apartments
Sale Type: Investment
Overview:
Located in the heart of Midtown Manhattan, 520 9th Ave offers a prime investment opportunity with its 4-unit, 2-star mid-rise apartment building. Priced at $5,500,000, this Class C property provides an attractive entry point for investors looking to capitalize on the vibrant Central Business District. With a total gross building area (GBA) of 3,610 SF and a typical floor size of 1,080 SF, this property promises steady returns and long-term growth potential.
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Key Features:
Prime Midtown Location:
Situated in the bustling Central Business District, 520 9th Ave is surrounded by a mix of residential, retail, and commercial properties. Its proximity to major landmarks and transportation hubs ensures strong demand for housing in the area.
Well-Structured Building:
This 4-story building features 4 market-rate units, each averaging 902.5 SF. Its manageable size makes it an excellent choice for first-time investors or seasoned professionals seeking a reliable addition to their portfolio.
Market-Rate Rentals:
All units are market-rate, allowing for greater flexibility in rental pricing and the opportunity to maximize income potential.
Steady Foot and Vehicle Traffic:
Located on 9th Avenue, the property benefits from high visibility and easy access to a wide range of amenities, including restaurants, shops, and cultural attractions.
Transportation Accessibility:
The property is well-served by public transportation, with multiple subway lines, buses, and Penn Station within walking distance, making it convenient for tenants and ensuring high occupancy rates.
Highlights:
- GBA: 3,610 SF with typical floor size of 1,080 SF
- Units: 4 market-rate apartments, ideal for steady rental income
- Strategic Location: In-demand Midtown area with consistent tenant demand
- Investment Flexibility: Class C property with room for potential upgrades and value-add opportunities
This is a rare opportunity to acquire a strategically located investment property in one of Manhattan’s most dynamic neighborhoods. Contact us today to learn more about this exceptional property and schedule a viewing!
