Multi-family

Presenting 322 East 74th Street, a 5-story mid-rise apartment building available for sale at $8,150,000 ($407,500 per unit). This investment property features 20 units, offering an exceptional opportunity for investors seeking affordable housing in a prime Upper East Side location, with the added benefit of rent-controlled units.

Property Overview:

• Address: 322 East 74th Street, New York, NY 10021
• Sale Price: $8,150,000 ($407,500 per unit)
• Units: 20
• Stories: 5
• Class: C
• Gross Building Area (GBA): 8,500 SF
• Typical Floor Size: 1,496 SF
• # of Buildings: 1
• Units per Acre: 342/AC
• Rent Type: Affordable
• Affordable Type: Rent Controlled

Key Features:

Prime Upper East Side Location: Situated on East 74th Street, this property offers an outstanding location in the heart of the Upper East Side, one of Manhattan’s most coveted neighborhoods. The area provides easy access to Central Park, top-tier shopping along Madison Avenue, renowned restaurants, and cultural landmarks.

Affordable Housing Investment: With a mix of rent-controlled units, this property offers the stability of affordable housing while providing a steady rental income. The property’s rent-controlled status ensures long-term tenants and consistent occupancy, a key feature for investors seeking reliable returns.

Spacious Units: The building offers 20 units with a total gross building area of 8,500 square feet. Typical floors feature 1,496 square feet, providing generous living space for tenants while allowing efficient management and maintenance of the property.

Investment Potential: As a rent-controlled building in an in-demand area, 322 East 74th Street provides a rare opportunity to invest in affordable housing in Manhattan. The property’s affordability component and prime location make it an attractive long-term investment.

Well-Maintained Property: With a class C rating and a manageable number of units per floor, the building offers an efficient layout and a solid structure for future upkeep. Its affordability factor further broadens its appeal to a variety of potential tenants.

Conclusion:

322 East 74th Street presents a unique investment opportunity with its mix of affordable, rent-controlled units in the prestigious Upper East Side. Offering reliable rental income, this property is a prime choice for investors looking to secure an asset with long-term potential in one of New York City’s most desirable neighborhoods. Don’t miss out on this exceptional investment!