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323 E 90th St
New York, NY 10128
Multifamily Property For Sale
·
12 Units
Investment Highlights
- Strategic location close to transportation.
- Above average condition with value-add opportunity.
- Close proximity to the 86th Street Q-4-5-6 subway
- Walking distance to public parks.
- New heating system.
Executive Summary
Solid income producing property. upside. 11 of 12 units free market.
5 story walk-up building located between First and Second Avenue on a quiet tree-lined street in the Upper East Side, one of Manhattan's most stable and appealing rental markets. The property is conveniently located in close proximity to the 86th Street Q-4-5-6 subway stations and within walking distance to Carl Schurz, Ruppert, and Central Parks. Of the 12 Residential units, 11 are free market (92%) and 1 is rent stabilized. The apartments are currently configures as 2 studios, 8 two-bedrooms and 2 two-bedroom duplexes with private access to the rear yard. The common areas of the building have undergone an extensive refurbishing with the installation of a brand new heating system and complete remaking of the roof (guaranteed for 10 years).
Plans are available for the further development of the property's basement including possibility of adding two extra residential units and common laundry room. 323 East 90th presents an investor the chance to acquire a strategically located and well-maintained multifamily building with significant in-place cash flow and remaining upside thanks to rising rents and the possibility of further value-add development options.
5 story walk-up building located between First and Second Avenue on a quiet tree-lined street in the Upper East Side, one of Manhattan's most stable and appealing rental markets. The property is conveniently located in close proximity to the 86th Street Q-4-5-6 subway stations and within walking distance to Carl Schurz, Ruppert, and Central Parks. Of the 12 Residential units, 11 are free market (92%) and 1 is rent stabilized. The apartments are currently configures as 2 studios, 8 two-bedrooms and 2 two-bedroom duplexes with private access to the rear yard. The common areas of the building have undergone an extensive refurbishing with the installation of a brand new heating system and complete remaking of the roof (guaranteed for 10 years).
Plans are available for the further development of the property's basement including possibility of adding two extra residential units and common laundry room. 323 East 90th presents an investor the chance to acquire a strategically located and well-maintained multifamily building with significant in-place cash flow and remaining upside thanks to rising rents and the possibility of further value-add development options.
Property Facts
| Price Per Unit | $624,583 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 4.47% | Building Size | 9,813 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 1915 |
| Apartment Style | Mid-Rise | ||
| Zoning | R8B - R8B Zoning in NYC is high density residential zoning district. This is contextual zoning which means following the Quality Housing Program Requirement | ||
| Price Per Unit | $624,583 |
| Sale Type | Investment |
| Cap Rate | 4.47% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 9,813 SF |
| Average Occupancy | 100% |
| No. Stories | 5 |
| Year Built | 1915 |
| Zoning | R8B - R8B Zoning in NYC is high density residential zoning district. This is contextual zoning which means following the Quality Housing Program Requirement |
Amenities
Unit Amenities
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
Site Amenities
- Wi-Fi
- Storage Space
- Public Transportation
- Private Bathroom
- Fiber Optic Internet
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 2+1 | 10 | - | - |
Property Taxes
| Parcel Number | 1553-0014 | Improvements Assessment | $901,440 |
| Land Assessment | $153,900 | Total Assessment | $1,055,340 |
Property Taxes
Parcel Number
1553-0014
Land Assessment
$153,900
Improvements Assessment
$901,440
Total Assessment
$1,055,340
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