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308 E 109th St 21 Unit Apartment Building $9,800,000 ($466,667/Unit) 7.60% Cap Rate New York, NY 10029
Investment Highlights
- Near Central Park
Executive Summary
Luxury Units: 20 apartments, 700-1,300 sqft, with oversized windows and panoramic views
• Luxury Features: King-size bedrooms, Juliet balconies, modern kitchens, high-end finishes
• Upscale Amenities: Gym, virtual doorman, roof deck, lounge, bike room, private storage
• Value-Add Opportunity: Current average rents at $59/sqft, with potential for upside in rents
• Prime Location: Nearby parks, restaurants, cultural attractions, easy access to shopping and
entertainment
• Excellent Transportation: Grand Central 20 minutes away, proposed 2nd Avenue subway stop
nearby ( trains)
• Luxury Features: King-size bedrooms, Juliet balconies, modern kitchens, high-end finishes
• Upscale Amenities: Gym, virtual doorman, roof deck, lounge, bike room, private storage
• Value-Add Opportunity: Current average rents at $59/sqft, with potential for upside in rents
• Prime Location: Nearby parks, restaurants, cultural attractions, easy access to shopping and
entertainment
• Excellent Transportation: Grand Central 20 minutes away, proposed 2nd Avenue subway stop
nearby ( trains)
Property Facts
| Price | $9,800,000 | Property Subtype | Apartment |
| Price Per Unit | $466,667 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 7.60% | Lot Size | 0.11 AC |
| Gross Rent Multiplier | 10.6 | Building Size | 16,371 SF |
| No. Units | 21 | No. Stories | 8 |
| Property Type | Multifamily | Year Built | 2013 |
| Zoning | R7A - Predominantly residential district | ||
| Price | $9,800,000 |
| Price Per Unit | $466,667 |
| Sale Type | Investment |
| Cap Rate | 7.60% |
| Gross Rent Multiplier | 10.6 |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 16,371 SF |
| No. Stories | 8 |
| Year Built | 2013 |
| Zoning | R7A - Predominantly residential district |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Storage Space
- Washer/Dryer Hookup
- Heating
- Walk-In Closets
- Wi-Fi
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Service
- Storage Space
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 21 | - | - |
1 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (82)
Property Taxes
| Parcel Number | 1680-0148 | Improvements Assessment | $1,884,690 |
| Land Assessment | $297,900 | Total Assessment | $2,182,590 |
Property Taxes
Parcel Number
1680-0148
Land Assessment
$297,900
Improvements Assessment
$1,884,690
Total Assessment
$2,182,590
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308 E 109th St
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