Introducing 1374 3rd Avenue, New York, NY 10075
Presenting a remarkable investment opportunity, 1374 3rd Avenue is a 2-star mid-rise apartment building ideally situated in an urban New York City location. Listed for sale at $8,000,000 ($666,667 per unit), this property includes twelve units across four stories, making it an appealing asset for real estate investors.
Property Details:
- Address: 1374 3rd Avenue, New York, NY 10075
- Sale Price: $8,000,000 ($666,667/Unit)
- Sale Type: Investment
- Building Type: 2-Star Mid-Rise Apartments
- Location: Urban
- Units: 12
- Stories: 4
- Class: C
- Gross Building Area (GBA): 9,839 sq. ft.
- Typical Floor Area: 2,460 sq. ft.
- Number of Buildings: 1
- Units per Acre: 172
- Market Segment: All
- Rent Type: Market
Key Features:
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Attractive Investment Returns
With twelve units and a gross building area of 9,839 square feet, 1374 3rd Avenue offers a solid investment opportunity in a bustling New York City neighborhood. The competitive price per unit, coupled with a market-leading cap rate of 5.24%, promises strong rental income potential for investors seeking a stable return on investment.
Prime Urban Location
This property’s location in a vibrant New York urban area provides tenants with immediate access to public transportation, retail, dining, and entertainment options, ensuring ongoing demand for rental properties in the area. The dynamic setting adds significant long-term growth potential.
Market Rental Flexibility
Class C market-rate rental options provide flexibility and appeal to a wide tenant demographic, ensuring stable occupancy levels and reliable income.
Conclusion:
1374 3rd Avenue represents an outstanding investment opportunity for those seeking to expand their real estate portfolio with a mid-rise apartment building in a prime New York urban area. Its unit count, favorable price, and advantageous rental income potential make this property a valuable choice for seasoned investors.
