Multi-family

Introducing 218 E 111th Street, New York, NY 10029

This 6,091 sq. ft. mid-rise apartment building at 218 E 111th Street presents an attractive investment opportunity in Manhattan’s evolving East Harlem neighborhood. Priced at $1,575,000 with a cap rate of 6.59%, this Class B, 3-star property features eight units across four stories, providing an appealing rental income potential in a high-demand market.

Property Details:

• Address: 218 E 111th Street, New York, NY 10029
• Sale Price: $1,575,000 ($196,875 per unit)
• Cap Rate: 6.59%
• Gross Building Area (GBA): 6,091 sq. ft.
• Typical Floor Size: 1,523 sq. ft.
• Units: 8
• Stories: 4
• Building Class: B
• Units per Area: 136 units/AC

Key Features:

Well-Sized Multi-Unit Property
With eight units spread over four stories, this mid-rise apartment building offers efficient floor plans with approximately 1,523 sq. ft. per floor. The Class B rating and adaptable layout make it an attractive option for mid-sized residential rental, ideal for tenants seeking spacious and modern living accommodations.

Prime East Harlem Location
Situated in East Harlem, 218 E 111th Street is positioned within a neighborhood experiencing strong growth and development. Residents benefit from nearby parks, diverse dining options, and access to major transportation routes. The urban locale draws both longtime Manhattan residents and new tenants seeking an active community and proximity to central Manhattan.

Investment Potential and Income Generation
The property’s cap rate of 6.59% and competitive per-unit price of $196,875 reflect its solid income potential. The market-rate rental structure allows for dynamic rental pricing, adapting to changing market conditions and enhancing long-term investment value.

Urban Accessibility and Local Conveniences
The property’s location offers easy access to transit options and community amenities, supporting both tenant attraction and retention. With nearby educational institutions, healthcare facilities, and retail hubs, tenants are well-positioned to enjoy East Harlem’s vibrant, amenity-rich lifestyle.

Conclusion:

218 E 111th Street represents a strategic investment in East Harlem, combining a stable rental structure with potential for appreciation in a flourishing neighborhood. Its blend of size, location, and income potential makes it a promising addition to any investor’s portfolio looking to capitalize on Manhattan’s dynamic rental market.