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Prime East Village Multifamily -TurnKey 631 E Sixth St 10 Unit Apartment Building $12,500,000 ($1,250,000/Unit) 5.60% Cap Rate New York, NY 10009
Investment Highlights
- Turnkey Luxury Asset: A fully gut-renovated, 10-unit residential building featuring high-end, modern finishes throughout.
- Immediate Cash Flow & Full Occupancy: 100% leased with first-month rent concessions already burned off, delivering stabilized, hassle-free revenue.
- Low Owner Expenses: Separately metered utilities, with tenants paying all electricity, heating, and cooling costs directly.
- Tax Protection: Highly desirable Tax Class 2B designation, limiting annual assessment increases and stabilizing long-term tax exposure.
- Modern Tenant Amenity Package: Outfitted with an on-site laundry facility, virtual doorman, and individual tenant-controlled HVAC units.
- Favorable Debt Financing: Includes an attractive assumable loan structure of $7.25M at a 6.48% interest-only rate.
Property Facts
| Price | $12,500,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $1,250,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 5.60% | Building Size | 6,890 SF |
| No. Units | 10 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | ||
| Zoning | R8B - Medium density residential | ||
| Price | $12,500,000 |
| Price Per Unit | $1,250,000 |
| Sale Type | Investment |
| Cap Rate | 5.60% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 6,890 SF |
| No. Stories | 5 |
| Year Built | 1900 |
| Zoning | R8B - Medium density residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | - |
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Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Exceptionally bikeable
100/100
Property Taxes
| Parcel Number | 0389-0045 | Improvements Assessment | $242,552 |
| Land Assessment | $40,528 | Total Assessment | $283,080 |
Property Taxes
Parcel Number
0389-0045
Land Assessment
$40,528
Improvements Assessment
$242,552
Total Assessment
$283,080
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Contact the Sale Advisor
Prime East Village Multifamily -TurnKey | 631 E Sixth St