Listed by Marcus & Millichap - NYM Group
$9,000,000
332 East 6th Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 7,800
Units 12
Cap Rate 6.00%
NOI $540,000
Occupancy 83%
Tenancy Multi
Price per SqFt $1,154
Year Built 1900
Buildings 1
Stories 6
Lot Size (SqFt) 2,425
Zoning R8B
Investment Type Stabilized
Multifamily | 12 Units | $750,000/unit
Marketing description
Marcus & Millichap is pleased to exclusively offer 332 East 6th Street, a 6-story multifamily building located on the south side of the street between 1st Avenue and 2nd Avenue. This 12-unit property is comprised of approximately 7,800 square feet with 25' of frontage. The building is 25' x 52' and sits on a 25' x 97' lot (Block: 447; Lot: 22). The property is zoned R8B.
Investment highlights
- High-End Finishes: Elevating the stature of this property is its newly renovated interiors. All 10 Free Market units within the building are adorned with Large Bedrooms, Hardwood Floors, Dishwashers, Kitchen with Stainless Steel Appliances and Granite Countertops, In-Unit Washer/Dryer, New Marble Bathrooms, and Amazing Light Throughout.
- Diverse Unit Mix: This six-story, pre-war, multifamily building contains 12 residential units. There is 1 Studio, 1 1-Bedroom, 1 2-Bedroom and 9 3-Bedroom apartment.
- 83% Free Market: 10 of the 12 residential units are Free-Market, allowing new ownership to take advantage of the robust rental market in the East Village.
- Location & Accessible Transportation: Located in the Heart of the East Village, 332 East 6th Street has a Natural Strong Demand Given its Centralized Location and Access to all the Neighborhood has to Offer. This creates a strong demand of renters and tenants given endless supply of restaurants, nightlife, parks, shopping, and transportation. The properties' nearby attractions include Tompkins Square Park, Astor Place, Union Square, NYU, Whole Foods and more. Top restaurants nearby include Cafe Mogador, The Bao, Oiji, Emmy Squared, Cacio E Pepe, Lavagna, Nowon, Buenos Aires and too many more to name. Conveniently Located steps from Astor Place Station and walking distance to Union Square.
Listing Contacts
Listed by Marcus & Millichap - NYM Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$540,000.00
$45,000.00/mo
Valuation Metrics
0
DSCR
6%
Cap Rate
6%
ROI
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