Listed by Cervelli Real Estate & Property Management
$2,599,000
55 E 21st Street
Details
Property Type Mixed Use
Square Footage 4,040
Cap Rate 4.58%
Occupancy 97.5%
Tenancy Multi
Price per SqFt $372
Stories 3
Lot Size (SqFt) 4,040
Zoning TDD
Investment Type Value Add
Ground Lease No
Ownership Fee Simple
Corner Mixed-Use with 10 Units
Marketing description
Acquire this corner mixed-use investment at 55 E 21st Street, featuring 10 residential units, 1 commercial space, and a standalone garage. The asset consists of two separate structures, including an 8-unit building with a ground-floor commercial space and a detached 2-unit building. Many of the residential leases are currently month-to-month, providing a clear opportunity to increase rents and capture upside. The commercial space also offers flexibility and may be subdivided into two units to enhance income potential. Ownership has recently completed a successful tax appeal, with the updated assessment pending, which may further improve overall performance.
Listing Contacts
Listed by Cervelli Real Estate & Property Management
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