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128 E 65th St 5 Unit Apartment Building $8,100,000 ($1,620,000/Unit) 3% Cap Rate New York, NY 10065
INVESTMENT HIGHLIGHTS
- Best Lenox Hill Location, beautiful townhouse block
- Generous full floor layout
- Excellent transit access via F, Q, and 6 subway lines
- sunblasted
- Prime Upper East Side location between Park and Lexington Avenues
- Surrounded by luxury retail, fine dining, and cultural destinations
EXECUTIVE SUMMARY
20' wide Elevator brownstone between Park and Lexington Avenue features 5 floor through free market apartments each with 1.5 baths serviced by a large elevator. Building is approximately 5,500 square feet and backs onto low townhouses allowing the sun to pour through the house. Turn key investment property fully tenanted at market rates. Each apartment has individual thermostats for heat and air conditioning; Laundry room in basement. Possible conversion to single family.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$379,200
|
$70.30
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$379,200
|
$70.30
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$185,530
|
$34.40
|
| Net Operating Income |
$193,670
|
$35.90
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $379,200 |
| Annual Per SF | $70.30 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $379,200 |
| Annual Per SF | $70.30 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $185,530 |
| Annual Per SF | $34.40 |
| Net Operating Income | |
|---|---|
| Annual | $193,670 |
| Annual Per SF | $35.90 |
PROPERTY FACTS
| Price | $8,100,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $1,620,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 3% | Building Size | 5,394 SF |
| Gross Rent Multiplier | 21 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1939/2004 |
| Property Subtype | Apartment | ||
| Zoning | R8B, New York - High density residential district | ||
| Price | $8,100,000 |
| Price Per Unit | $1,620,000 |
| Sale Type | Investment |
| Cap Rate | 3% |
| Gross Rent Multiplier | 21 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 5,394 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1939/2004 |
| Zoning | R8B, New York - High density residential district |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Fireplace
- Heating
- Oven
- Range
- Garden
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Elevator
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 5 | - | - |
1 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 1399-0061 | Improvements Assessment | $1,165,606 |
| Land Assessment | $159,554 | Total Assessment | $1,325,160 |
PROPERTY TAXES
Parcel Number
1399-0061
Land Assessment
$159,554
Improvements Assessment
$1,165,606
Total Assessment
$1,325,160
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128 E 65th St
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