Boutique Midtown East Multifamily Investment – 25 East 38th Street
Asking Price: $4,950,000
Price/Unit: $495,000
Cap Rate: 4.42%
Asset Type: 2-Star Mid-Rise Apartments
Units: 10 Residential Units
Stories: 4
Gross Building Area (GBA): 6,690 SF
Typical Floor Plate: 1,292 SF
Class: C
Rent Type: Market-Rate
Location: Murray Hill / Midtown East
Zoning: Verify Separately
Property Overview:
25 East 38th Street is a well-positioned 10-unit multifamily building located in the heart of Midtown East, just steps from Park Avenue and Grand Central Terminal. This classic 4-story walk-up totals 6,690 square feet and offers 100% market-rate tenancy, providing stable income and long-term rent growth potential in one of Manhattan’s most reliable rental corridors.
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Key Features:
- Prime Midtown Location: Situated on a tree-lined block between Park and Madison Avenues
- Fully Market-Rate Units: No rent stabilization, offering maximum flexibility on lease terms and rent increases
- Efficient Layout: Mix of studios and one-bedrooms suited for young professionals and long-term renters
- Stable Income Stream: In-place 4.42% cap rate with historically low vacancy
- Transit-Rich Environment: Near Grand Central (4/5/6, 7, and Metro-North), Bryant Park, and major employment centers
Investment Highlights:
- 10-unit multifamily in Midtown East
- 6,690 SF across four floors with efficient residential layout
- Asking $4.95M – only $495,000 per unit
- Strong cash flow with value-add upside through light renovations
- Ideal 1031 exchange, family portfolio acquisition, or long-term investment
Conclusion:
25 East 38th Street presents a turnkey investment in a resilient, transit-rich Manhattan neighborhood. With full market-rate occupancy, solid in-place income, and long-term appreciation potential, this asset offers an excellent balance of stability and upside for investors focused on core New York City multifamily properties.
Contact us today for the rent roll, financials, or to schedule a private tour.
