274 E 10th Street, New York, (New York (Manhattan)), NY, 10009
1900
East Village Investment Opportunity: 274 East 10th Street Offered at $6,200,000 Located in the heart of the East Village, 274 East 10th Street is a prime 5-story, 6,000 sq. ft. multifamily property featuring 12 rental units (7 one-bedroom, 2 two-bedroom, 1 studio, 1 mini office) and a large backyard. With 9 free-market units, conservative upgrades could increase the rent roll by 21%. Key Location Highlights: Proximity: Strategically positioned between Avenue A and First Avenue, just half a block from Tompkins Square Park and Alphabet City. Strong Market Fundamentals: Vacancy Rate: 1.6% vs. Metro average of 2.8%, indicating strong demand. Annual Rent Growth: 4% vs. Metro’s 1.2%, driven by high demand and limited new construction. Supply Constraints: Only 70 units added in the past 5 years, with 160 units currently under construction. Rental Market Overview: Average Rent: $4,730/month vs. Metro average of $3,220/month. Rent by Bedroom: Studios: $3,000 1-Bedrooms: $3,500 2-Bedrooms: $4,600+ 3-Bedrooms: $6,500 Conclusion: With its tight supply, rising rents, and prime location, the East Village remains a top-tier investment area. High tenant demand and limited inventory ensure continued rent growth, while the vibrant neighborhood amenities justify premium pricing for renters
Status:
Active
Town:
New York
Type:
Commercial
Units:
12
Heating:
Steam
Cooling:
Individual Units
Basement:
Unfinished
Acreage:
0.06
Est. Taxes:
$67,927
Assessment
$633,150
Construction
Brick
Utilities
Natural Gas Connected
Days on Market:
1
MLS #:
811768
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Bond Property Mrkting Grp LLC 212-582-2009