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301 E Houston St 3 Unit Apartment Building $3,000,000 ($1,000,000/Unit) New York, NY 10002
Investment Highlights
- Four-unit mixed-use building with three residential apartments and one retail space.
- Retail space secured by a new long-term lease with a deli tenant.
- 100% free market residential units with one current vacancy for immediate lease-up.
- Located in the Lower East Side, steps from dining, shopping, and cultural attractions.
Executive Summary
301 E Houston Street presents a rare opportunity to acquire a fully market-rate, mixed-use property in Manhattan’s vibrant Lower East Side. This four-story walk-up building features three residential apartments and one ground-floor retail space, offering a balanced income stream and long-term investment stability. The retail unit is newly leased to a deli under a long-term agreement, providing secure cash flow, while the residential units are all free market, allowing for future rent growth and flexibility.
Located steps from the renowned Clinton Street Baking Company and surrounded by an eclectic mix of restaurants, shops, and cultural destinations, the property benefits from exceptional neighborhood demand. Its proximity to the F, M, J, and Z subway lines ensures convenient access throughout Manhattan and Brooklyn, enhancing tenant appeal. With projected annual income of $243,756 and an NOI of $163,716, this asset offers strong fundamentals and upside potential in one of New York City’s most dynamic submarkets.
Located steps from the renowned Clinton Street Baking Company and surrounded by an eclectic mix of restaurants, shops, and cultural destinations, the property benefits from exceptional neighborhood demand. Its proximity to the F, M, J, and Z subway lines ensures convenient access throughout Manhattan and Brooklyn, enhancing tenant appeal. With projected annual income of $243,756 and an NOI of $163,716, this asset offers strong fundamentals and upside potential in one of New York City’s most dynamic submarkets.
Property Facts
| Price | $3,000,000 | Building Class | C |
| Price Per Unit | $1,000,000 | Lot Size | 0.02 AC |
| Sale Type | Investment | Building Size | 3,600 SF |
| No. Units | 3 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1910 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | R8A - High density residential district | ||
| Price | $3,000,000 |
| Price Per Unit | $1,000,000 |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.02 AC |
| Building Size | 3,600 SF |
| No. Stories | 4 |
| Year Built | 1910 |
| Opportunity Zone |
Yes |
| Zoning | R8A - High density residential district |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | - |
1 1
Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
100/100
Exceptionally bikeable
100/100
Property Taxes
| Parcel Number | 0350-0054 | Improvements Assessment | $298,249 |
| Land Assessment | $95,126 | Total Assessment | $393,375 |
Property Taxes
Parcel Number
0350-0054
Land Assessment
$95,126
Improvements Assessment
$298,249
Total Assessment
$393,375
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301 E Houston St
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