$ 5.9 MILLION DOLLARS
PRIME EAST VILLAGE-MIXED USE PROPERTY.
 
418 East 9th Street, New York, NY 10009.
NEW GAS BOILER.
 
Thompson Square Park/St. Mark's Place
9 renovated Free Market Apartments.
Location: On the South side of East 9th Street between 1st Avenue and Avenue A off Tompkins Square Park
Block/Lot: 436/16
Lot Size: 24' x 93.92' (Approx.)
Lot Area: 2,254 sq. ft. (Approx.)
Stories: 6 plus basement
Building Size: 24' x 66'
Gross Sq. Footage: 9,504 sq. ft. (Approx.) Incl. Basement
Assessed Value: $ 404,910 (07/08)
Real Estate Taxes: $ 48,298 (07/08)
Zoning: R7-2
FAR: 3.44
Air Rights: (1,816 sq. ft.) None
Historic District: No
Built: 1900

Description:
24' wide, 6-story (plus basement), 13 unit, approximately 9,504 sq. ft. walk-up apartment building in the heart of the East Village. The ground floor consists of two studios (one free market) and a 2 bedroom apartment (with a large backyard). The remaining five floors consist of ten (10) two-bedroom units, 7 of which are free market. The building is highly maintained, has a new gas boiler, new copper plumbing, newly tiled hallways and has no violations. Both top floor apartments are free market, new owner can extend those apartments into the roof to the maximum allowable. This property is ideal for an investor or conversion.

Gross Annual Revenue :
$
430,116
Annual Expenses:
$
91,562
Net Annual Income:
$
338,554
CAP Rate  
5.74%

 

Please Click Here to View Detailed Income Statement.
 
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