Multi-family

Investment Opportunity in East Village – 317 E 5th Street, New York, NY
Presenting a profitable investment property in the East Village, this mid-rise apartment building is listed for $8,800,000. Offering nine units and a high cap rate of 6.79%, this 2-star, Class C building represents an attractive opportunity for investors aiming to gain a foothold in Manhattan’s rental market. With its central location and market-rate units, this property offers solid income potential.

Property Details:

• Address: 317 E 5th Street, New York, NY 10003
• Asking Price: $8,800,000 ($977,778 per unit)
• Cap Rate: 6.79%
• Gross Building Area (GBA): 8,100 sq. ft.
• Typical Floor Size: 1,620 sq. ft.
• Stories: 5
• Units: 9 residential units
• Building Class: C
• Location: Central Business District, East Village, Manhattan
• Market Segment: All
• Rent Type: Market

Key Features:

Prime East Village Location with Consistent Demand
Situated in the lively East Village, this property enjoys strong demand due to its desirable location close to shops, dining, and transportation. The central location draws a diverse tenant base, contributing to high occupancy rates.

Market-Rate Apartments with High Cap Rate
Offering a cap rate of 6.79%, this property delivers strong income potential for investors. All units are market-rate, allowing for flexibility in rental pricing and future income growth.

Solid Mid-Rise Building with Steady Returns
This five-story, Class C building is ideal for investors looking to maximize returns in Manhattan. With nine market-rate units, it presents a robust opportunity to generate income in a prime area.

Conclusion:
317 E 5th Street is a strategic investment opportunity in the East Village, offering a high cap rate, desirable location, and market-rate units. With its potential for steady income and growth, this property is an excellent choice for investors targeting New York City’s rental market.