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717 E 5th St 22 Unit Apartment Building $7,750,000 ($352,273/Unit) 5.43% Cap Rate New York, NY 10009
Investment Highlights
- Calling All Investors, Developers, & End-Users!!! 5.43 Cap 100% Occupied 22 Unit Apartment Building In The East Village For Sale!!!
- The Property Is Located In the Heart Of Manhattan Just 2 Blocks From The FDR Drive!!!
- This Property Offers HUGE Upside Potential!!!
- The Property Features Excellent Signage, Great Exposure, R8B Zoning, 5 Free Market Apartments, High 9’ Ceilings, Skylight, Separate Meters, A/C, +++!!
- Neighbors Include Bank of America, USPS, UPS, T-Mobile, Boost Mobile, WholeFoods, Target, Staples, CVS, Walgreens, Dunkin’, Wonder, +++!!!
- This Could Be Your Next Development Site or The Next Home For Your Business!!!
Executive Summary
Calling All Investors, Developers, & End-Users!!! 5.43 Cap 100% Occupied 22 Unit Apartment Building In The East Village For Sale!!! The Property Features Excellent Signage, Great Exposure, R8B Zoning, 5 Free Market Apartments, High 9’ Ceilings, Skylight, Separate Meters, 3 Phase Power, All New LED Lighting, A/C, +++!!! The Property Is Located In the Heart Of Manhattan Just 2 Blocks From The FDR Drive!!! Neighbors Include Bank of America, USPS, UPS, T-Mobile, Boost Mobile, WholeFoods, Target, Staples, CVS, Walgreens, Dunkin’, Wonder, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site or The Next Home For Your Business!!!
Income:
Apt. BA: $26,734.68 Ann.; Lease Exp.: 3/31/27.
Apt. BC: $26,280 Ann.; Lease Exp.: 4/30/27.
Apt. 1A: $25,847.88 Ann.; Lease Exp.: 8/31/26.
Apt. 1B: $31,500 Ann.; Lease Exp.: 8/31/26.
Apt. 1C: $33,300 Ann.; Lease Exp.: 2/28/27.
Apt. 1D: $25,705.44 Ann.; Lease Exp.: 8/31/26.
Apt. 2A: $32,700 Ann.; Lease Exp.: 11/30/26.
Apt. 2B: $30,900 Ann.; Lease Exp.: 1/31/27.
Apt. 2C: $16,975.68 Ann.; Lease Exp.: 6/30/26.
Apt. 2D: $25,836.36 Ann.; Lease Exp.: 7/31/26.
Apt. 3A: $31,800 Ann.: Lease Exp.: 8/31/26.
Apt. 3B: $27,600 Ann.; Lease Exp.: 5/31/26.
Apt. 3C: $17,625.721 Ann.; Lease Exp.: 1/31/27.
Apt. 3D: $21,250.92 Ann.; Lease Exp.: 3/31/28.
Apt. 4A: $29,209.80 Ann.; Lease Exp.: 8/31/26.
Apt. 4B: $27,284.04 Ann.; Lease Exp.: 5/31/26.
Apt. 4C: $24,068.64 Ann.; Lease Exp.: 7/31/26
Apt. 4D: $32,400 Ann.; Lease Exp.: 1/31/27.
Apt. 5A: $29,046 Ann.; Lease Exp.: 4/30/27.
Apt. 5B: $30,096 Ann.; Lease Exp.: 5/31/28.
Apt. 5C: $20,400 Ann.; Lease Exp.: 11/21/25.
Apt. 5D: $25,956.60 Ann.; Lease Exp.: 5/31/26.
Gross Income: $592,517.76 Ann.
Expenses:
Fuel: $8,106.39 Ann.
Electric: $1,432.96 Ann.
Water & Sewer: $8,525.84 Ann.
Insurance: $11,463.61 Ann.
Maintenance & Repairs: $13,182.29 Ann.
Taxes: $128,695.85 Ann.
Total Expense: $171,406.94 Ann.
Net Operating Income (NOI): $421,110.82 Ann. (5.43% Cap!!!)
Income:
Apt. BA: $26,734.68 Ann.; Lease Exp.: 3/31/27.
Apt. BC: $26,280 Ann.; Lease Exp.: 4/30/27.
Apt. 1A: $25,847.88 Ann.; Lease Exp.: 8/31/26.
Apt. 1B: $31,500 Ann.; Lease Exp.: 8/31/26.
Apt. 1C: $33,300 Ann.; Lease Exp.: 2/28/27.
Apt. 1D: $25,705.44 Ann.; Lease Exp.: 8/31/26.
Apt. 2A: $32,700 Ann.; Lease Exp.: 11/30/26.
Apt. 2B: $30,900 Ann.; Lease Exp.: 1/31/27.
Apt. 2C: $16,975.68 Ann.; Lease Exp.: 6/30/26.
Apt. 2D: $25,836.36 Ann.; Lease Exp.: 7/31/26.
Apt. 3A: $31,800 Ann.: Lease Exp.: 8/31/26.
Apt. 3B: $27,600 Ann.; Lease Exp.: 5/31/26.
Apt. 3C: $17,625.721 Ann.; Lease Exp.: 1/31/27.
Apt. 3D: $21,250.92 Ann.; Lease Exp.: 3/31/28.
Apt. 4A: $29,209.80 Ann.; Lease Exp.: 8/31/26.
Apt. 4B: $27,284.04 Ann.; Lease Exp.: 5/31/26.
Apt. 4C: $24,068.64 Ann.; Lease Exp.: 7/31/26
Apt. 4D: $32,400 Ann.; Lease Exp.: 1/31/27.
Apt. 5A: $29,046 Ann.; Lease Exp.: 4/30/27.
Apt. 5B: $30,096 Ann.; Lease Exp.: 5/31/28.
Apt. 5C: $20,400 Ann.; Lease Exp.: 11/21/25.
Apt. 5D: $25,956.60 Ann.; Lease Exp.: 5/31/26.
Gross Income: $592,517.76 Ann.
Expenses:
Fuel: $8,106.39 Ann.
Electric: $1,432.96 Ann.
Water & Sewer: $8,525.84 Ann.
Insurance: $11,463.61 Ann.
Maintenance & Repairs: $13,182.29 Ann.
Taxes: $128,695.85 Ann.
Total Expense: $171,406.94 Ann.
Net Operating Income (NOI): $421,110.82 Ann. (5.43% Cap!!!)
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$592,518
|
$59.25
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$592,518
|
$59.25
|
| Taxes |
$128,696
|
$12.87
|
| Operating Expenses |
$42,711
|
$4.27
|
| Total Expenses |
$171,407
|
$17.14
|
| Net Operating Income |
$421,111
|
$42.11
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $592,518 |
| Annual Per SF | $59.25 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $592,518 |
| Annual Per SF | $59.25 |
| Taxes | |
|---|---|
| Annual | $128,696 |
| Annual Per SF | $12.87 |
| Operating Expenses | |
|---|---|
| Annual | $42,711 |
| Annual Per SF | $4.27 |
| Total Expenses | |
|---|---|
| Annual | $171,407 |
| Annual Per SF | $17.14 |
| Net Operating Income | |
|---|---|
| Annual | $421,111 |
| Annual Per SF | $42.11 |
Property Facts
| Price | $7,750,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $352,273 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 5.43% | Building Size | 10,000 SF |
| No. Units | 22 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R8B | ||
| Price | $7,750,000 |
| Price Per Unit | $352,273 |
| Sale Type | Investment |
| Cap Rate | 5.43% |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 10,000 SF |
| No. Stories | 5 |
| Year Built | 1920 |
| Opportunity Zone |
Yes |
| Zoning | R8B |
Amenities
Unit Amenities
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Security System
- Tenant Controlled HVAC
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 11 | - | 500 |
| 1+1 | 11 | - | 650 |
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Exceptionally bikeable
100/100
Property Taxes
| Parcel Number | 0375-0061 | Total Assessment | $1,057,920 |
| Land Assessment | $214,650 | Annual Taxes | $128,696 ($12.87/SF) |
| Improvements Assessment | $843,270 | Tax Year | 2026 |
Property Taxes
Parcel Number
0375-0061
Land Assessment
$214,650
Improvements Assessment
$843,270
Total Assessment
$1,057,920
Annual Taxes
$128,696 ($12.87/SF)
Tax Year
2026
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Map
Contact the Sale Advisor
717 E 5th St