Listed by Brown Harris Stevens
$1,150,000
263 East 46th Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,720
Net Rentable (SqFt) 3,720
Units 6
Cap Rate 4.13%
NOI $47,465
Occupancy 100%
Price per SqFt $309
Class B
Year Built 1950
Year Renovated 15
Buildings 1
Stories 3
Lot Size (SqFt) 2,500
Zoning R5: (1.5) Height Limit 40’
Investment Type Stabilized
Ownership LOCAL
Multifamily | 6 Units | $191,667/unit
Marketing description
A 20’ wide 6-unit three story apartment building. The units are located to the front and back of the property. The first floor front unit is a studio apartment, all the other units are one-bedroom apartments. The units have a living/ dining area a full kitchen and full bathroom. All the units are rent stabilized. They are individually metered for cooking gas and electric. All the meters are in the basement which has 7’ ceilings. The building has a gas boiler, water heater
Investment highlights
The property is a prime investment opportunity because it has stable cash flow. Value can be added by up-dating the common areas and stairs. The lot size gives the property the potential to be developed into a condo apartment building.
The property is also a great user opportunity, a user can take an apartment on the first floor and duplex it with the basement. The upper floor units can be rented for income.
The property is located one a nice residential block with mostly single and two family homes, the area is quiet and family oriented.
Located right off Clarkson Avenue, the property has access to Bobby’s Department store, Walgreens, Chase Bank and many retail stores. The 46 Bus runs along Utica Avenue, to Eastern Parkway, to the 2, 3, 4 & 5 trains. All these factors gives the apartments high demand in the area.
Listing Contacts
Listed by Brown Harris Stevens
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$47,465.00
$3,955.42/mo
Valuation Metrics
0
DSCR
4.13%
Cap Rate
4.13%
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
