Multi-family
Screenshot
For Sale
Multi-family
Lovina House, 71, East 110th Street, Manhattan Community Board 11, Manhattan, New York County, City of New York, New York, 10029, United States
Description
We are pleased to present 71 East 110th Street, a remarkable 3-star mid-rise apartment building available for purchase in the vibrant East Harlem neighborhood of Manhattan. Priced at $9,000,000, this property offers a cap rate of 4.70% and represents an excellent opportunity for investors seeking a well-located urban asset with market-rate rental income.
Property Overview:
- Address: 71 E 110th Street, New York, NY, 10029
- Sale Price: $9,000,000 ($642,857/Unit)
- Cap Rate: 4.70%
- Property Type: 3-Star Mid-Rise Apartments
- Location: Urban
- Units: 14
- Average Unit Size: 1,000 SF
- Stories: 7
- Building Class: C
- Gross Building Area (GBA): 13,424 SF
- Typical Floor Area: 3,455 SF
- Number of Buildings: 1
- Units per Area: 185/AC
- Market Segment: All
- Rent Type: Market
Key Features:
- Prime Urban Location: Situated in East Harlem, this property benefits from proximity to cultural landmarks, parks, restaurants, and public transportation, making it highly desirable to tenants.
- Stable Income Potential: With 14 spacious units averaging 1,000 square feet each, this property offers consistent market-rate rental income with room for potential growth.
- Modern Mid-Rise Design: Spanning seven stories with a Gross Building Area of 13,424 square feet, the building features functional layouts with a typical floor area of 3,455 square feet.
- Attractive Investment Metrics: A cap rate of 4.70% and a price per unit of $642,857 make this an enticing option for investors seeking a balance of income and appreciation potential.
- Strategic Neighborhood Growth: East Harlem continues to attract residents and businesses, enhancing the property’s long-term value and tenant appeal.
Conclusion:
71 East 110th Street represents an exceptional investment opportunity in Manhattan’s dynamic East Harlem neighborhood. With its combination of stable income, strategic location, and competitive pricing, this mid-rise property is an ideal addition to any real estate portfolio. Secure your stake in one of New York City’s most promising areas today.
