407 East 77th St
UES: 70% Free Market | 15 Units | 230K Rent Improvement
Marketing description
Located in the heart of Manhattan’s Upper East Side, 407 East 77th Street offers a rare opportunity to acquire a 5-story, 15-unit multifamily rental building with exceptional free Market exposure and immediate value-add potential.
This well-maintained walk-up building consists of 11 Free Market units, 3 rent stabilized and 1 rent controlled. Two (2) Owner Occupied units along with three (3) furnished rentals will be delivered vacant six (6) months post-closing, creating a unique repositioning opportunity for new ownership to set market rents, renovate, or occupy. Rents are below market for certain Free Market Units!
Positioned between 1st and York Avenues, the building benefits from proximity to the Q train, major bus lines, and the vibrant retail and dining options that define the Upper East Side.
With its prime location and favorable unit mix, this asset offers flexibility for investors seeking strong cash flow, appreciation, or owner-user possibilities.
Investment highlights
- 15 Total Units | 11 Free Market
- 2 Owner Occupied Units delivered vacant 6 months post closing
- Prime Upper East Side location
- Significant upside potential through renovation and lease-up
- Well-maintained, low-density walk-up building
- Ideal for 1031 exchange buyers, long-term holders, or owner-users
- Don’t miss this rare opportunity to acquire a stabilized asset with built-in growth and repositioning options in one of Manhattan’s most in-demand residential neighborhoods.
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