351 E 4th St - Apartments FOR SALE


New York, NY 10009- Alphabet City
$17,000,000 USD
917-599-2002
351 E 4th St, New York, NY for Sale
$17,000,000 USD
Apartments - FOR SALE
1/28
null | 2.68% Cap Rate

351 E 4th St
New York, NY 10009
Alphabet City


HIGHLIGHTS

  • Tax Abatement Expired in 2023 allowing Free Market Rents upon Vacancy
  • 2001 Modern 33-Unit Elevator & Sprinkler Building
  • Outdoor Common Courtyard Recreation Area and Bicycle Storage

OVERVIEW

Long-term Investment Opportunity: Tax Abatement expired in 2023 allowing Free Market Rents upon vacancy in a Modern 33-Unit Elevator Building. Discover an exceptional investment opportunity with this 33-unit fireproof building, constructed in 2000. This high-income property is designed for long-term success and is currently 100% occupied, ensuring immediate and stable returns. Key Features: Fire Safety: This building is equipped with a comprehensive fire safety system, including a full sprinkler setup, standpipe, fire pump, and self-closing apartment doors. It is classified as a Class A fireproof dwelling, providing unparalleled safety for residents. Accessibility: The entire building is 100% handicap accessible and adaptable with elevator, ensuring convenience and compliance with accessibility standards. Modern Construction: Built with steel and concrete in 2001, the property features elegant Travertine Marble walls and durable Quarry tile floors, offering both aesthetics and longevity. Landlord Benefits: The basement includes over 1,500 square feet of landlord-owned storage space with separate front outside access, perfect for additional rental income or personal use. Security: Enhanced security measures include surveillance cameras strategically placed outside and in the lobby for resident safety and peace of mind. Apartment Amenities: Adaptability: Each apartment is handicap adaptable, making it suitable for a diverse range of tenants. Kitchens: Enjoy modern pass-through kitchen counters, ideal for entertaining and efficient meal preparation. Flooring: Beautiful parquet wood flooring adds warmth and style to each unit. Comfort: Bathrooms are equipped with heaters, ensuring comfort during colder months. This building represents a unique opportunity for investors seeking a property that combines safety, accessibility, and modern amenities. With its solid construction, full occupancy, and robust income potential, this is a chance to secure a high-performing asset in a prime location. Don't miss out on this rare offering. Contact us today to learn more and schedule a viewing!

FOR SALE DETAILS

PRICE

$17,000,000 USD

PRICE/SF

$555 USD /SF

# OF UNITS

33

PRICE/UNIT

$515,152

CAP RATE

2.68%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

8

YEAR BUILT

2000

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,347 SF

ZONING

R8B FAR 4.0 & R8A FAR 6.0

APN/PARCEL ID

0373-0023

ASK ABOUT THIS PROPERTY

Benjamin Chin351 EAST 4TH STREET, LLCMore Info
917-599-2002

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Benjamin Chin351 EAST 4TH STREET, LLCMore Info
917-599-2002

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.