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321 East 116th Street 321 E 116th St 3 Unit Apartment Building $1,695,000 ($565,000/Unit) New York, NY 10029
INVESTMENT HIGHLIGHTS
- Free Market value add opportunity
- Steps away from the coming Q-subway station at 2nd Avenue and East 116th Street
- R7B Zoning with additional air rights ~ 1,613 SF
- 2 Blocks from the East River Plaza
EXECUTIVE SUMMARY
Investment Property Realty Group (IPRG) has been retained on an exclusive basis to arrange for the sale of 321 East 116th Street, a 4-story, 3,382 SF, vacant free market walk-up apartment building.
The subject property is currently vacant with a certificate of occupancy for 2 apartments and a doctor’s office, posing as a prime value add opportunity.
It is ideally located on the north side of East 116th Street between 1st and 2nd Avenue, a few blocks away from the 6-subway station at Lexington Avenue and East 116th Street. It is surrounded by numerous new developments and sits on a vibrant retail corridor featuring a diverse mix of restaurants, bars, and local shops.
The subject property is currently vacant with a certificate of occupancy for 2 apartments and a doctor’s office, posing as a prime value add opportunity.
It is ideally located on the north side of East 116th Street between 1st and 2nd Avenue, a few blocks away from the 6-subway station at Lexington Avenue and East 116th Street. It is surrounded by numerous new developments and sits on a vibrant retail corridor featuring a diverse mix of restaurants, bars, and local shops.
PROPERTY FACTS
| Price | $1,695,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $565,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.04 AC |
| No. Units | 3 | Building Size | 3,625 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1900 |
| Zoning | R7B | ||
| Price | $1,695,000 |
| Price Per Unit | $565,000 |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.04 AC |
| Building Size | 3,625 SF |
| No. Stories | 4 |
| Year Built | 1900 |
| Zoning | R7B |
AMENITIES
UNIT AMENITIES
- Air Conditioning
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
1 1
Walk Score®
Walker's Paradise (95)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (83)
PROPERTY TAXES
| Parcel Number | 1688-0011 | Improvements Assessment | $64,686 |
| Land Assessment | $11,863 | Total Assessment | $76,549 |
PROPERTY TAXES
Parcel Number
1688-0011
Land Assessment
$11,863
Improvements Assessment
$64,686
Total Assessment
$76,549
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321 East 116th Street | 321 E 116th St
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