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404 E 73rd St 18 Unit Apartment Building $7,000,000 ($388,889/Unit) 7% Cap Rate New York, NY 10021
Investment Highlights
- Exceptional Upper East Side Location
- Recent Capital Improvements + Low OpEx Structure
- Strong Income with Immediate Upside
Executive Summary
Marcus & Millichap is pleased to exclusively offer 404 East 73rd Street, a 20-unit mixed-use property located in the Upper East Side’s Lenox Hill neighborhood. The property features 18 one bedroom residential units (14 free-market and 4 rent-stabilized) and 2 ground-floor commercial spaces. With approximately 9,731 square feet, this pre-war walk-up building offers investors an attractive combination of strong in-place income, efficient expenses, and long-term upside.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $7,000,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $388,889 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 7% | Building Size | 11,909 SF |
| No. Units | 18 | Average Occupancy | 85% |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 1910 |
| Zoning | R8B C1-9 - High Density Residential District. | ||
| Price | $7,000,000 |
| Price Per Unit | $388,889 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 11,909 SF |
| Average Occupancy | 85% |
| No. Stories | 5 |
| Year Built | 1910 |
| Zoning | R8B C1-9 - High Density Residential District. |
Amenities
Unit Amenities
- Heating
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | $2,300 | 500 |
1 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (85)
Property Taxes
| Parcel Number | 1467-0044 | Total Assessment | $1,054,350 (2025) |
| Land Assessment | $229,950 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $824,400 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
1467-0044
Land Assessment
$229,950 (2025)
Improvements Assessment
$824,400 (2025)
Total Assessment
$1,054,350 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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404 E 73rd St
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