351 E 4th St
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351 E 4th St
33 Unit Apartment Building $24,096,990 CAD ($730,212 CAD/Unit) 2.68% Cap Rate New York, NY 10009
Investment Highlights
- Tax Abatement Expired in 2023 allowing Free Market Rents upon Vacancy
- Outdoor Common Courtyard Recreation Area and Bicycle Storage
- 2001 Modern 33-Unit Elevator & Sprinkler Building
Executive Summary
Long-term Investment Opportunity: Tax Abatement expired in 2023 allowing Free Market Rents upon vacancy in a Modern 33-Unit Elevator Building.
Discover an exceptional investment opportunity with this 33-unit fireproof building, constructed in 2000. This high-income property is designed for long-term success and is currently 100% occupied, ensuring immediate and stable returns.
Key Features:
Fire Safety: This building is equipped with a comprehensive fire safety system, including a full sprinkler setup, standpipe, fire pump, and self-closing apartment doors. It is classified as a Class A fireproof dwelling, providing unparalleled safety for residents.
Accessibility: The entire building is 100% handicap accessible and adaptable with elevator, ensuring convenience and compliance with accessibility standards.
Modern Construction: Built with steel and concrete in 2001, the property features elegant Travertine Marble walls and durable Quarry tile floors, offering both aesthetics and longevity.
Landlord Benefits: The basement includes over 1,500 square feet of landlord-owned storage space with separate front outside access, perfect for additional rental income or personal use.
Security: Enhanced security measures include surveillance cameras strategically placed outside and in the lobby for resident safety and peace of mind.
Apartment Amenities:
Adaptability: Each apartment is handicap adaptable, making it suitable for a diverse range of tenants.
Kitchens: Enjoy modern pass-through kitchen counters, ideal for entertaining and efficient meal preparation.
Flooring: Beautiful parquet wood flooring adds warmth and style to each unit.
Comfort: Bathrooms are equipped with heaters, ensuring comfort during colder months.
This building represents a unique opportunity for investors seeking a property that combines safety, accessibility, and modern amenities. With its solid construction, full occupancy, and robust income potential, this is a chance to secure a high-performing asset in a prime location.
Don't miss out on this rare offering. Contact us today to learn more and schedule a viewing!
Discover an exceptional investment opportunity with this 33-unit fireproof building, constructed in 2000. This high-income property is designed for long-term success and is currently 100% occupied, ensuring immediate and stable returns.
Key Features:
Fire Safety: This building is equipped with a comprehensive fire safety system, including a full sprinkler setup, standpipe, fire pump, and self-closing apartment doors. It is classified as a Class A fireproof dwelling, providing unparalleled safety for residents.
Accessibility: The entire building is 100% handicap accessible and adaptable with elevator, ensuring convenience and compliance with accessibility standards.
Modern Construction: Built with steel and concrete in 2001, the property features elegant Travertine Marble walls and durable Quarry tile floors, offering both aesthetics and longevity.
Landlord Benefits: The basement includes over 1,500 square feet of landlord-owned storage space with separate front outside access, perfect for additional rental income or personal use.
Security: Enhanced security measures include surveillance cameras strategically placed outside and in the lobby for resident safety and peace of mind.
Apartment Amenities:
Adaptability: Each apartment is handicap adaptable, making it suitable for a diverse range of tenants.
Kitchens: Enjoy modern pass-through kitchen counters, ideal for entertaining and efficient meal preparation.
Flooring: Beautiful parquet wood flooring adds warmth and style to each unit.
Comfort: Bathrooms are equipped with heaters, ensuring comfort during colder months.
This building represents a unique opportunity for investors seeking a property that combines safety, accessibility, and modern amenities. With its solid construction, full occupancy, and robust income potential, this is a chance to secure a high-performing asset in a prime location.
Don't miss out on this rare offering. Contact us today to learn more and schedule a viewing!
Data Room Click Here to Access
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| 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 - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $24,096,990 CAD | Apartment Style | Mid Rise |
| Price Per Unit | $730,212 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 2.68% | Building Size | 30,629 SF |
| Gross Rent Multiplier | 19.95 | Average Occupancy | 100% |
| No. Units | 33 | No. Stories | 8 |
| Property Type | Multifamily | Year Built | 2000 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $24,096,990 CAD |
| Price Per Unit | $730,212 CAD |
| Sale Type | Investment |
| Cap Rate | 2.68% |
| Gross Rent Multiplier | 19.95 |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 30,629 SF |
| Average Occupancy | 100% |
| No. Stories | 8 |
| Year Built | 2000 |
| Opportunity Zone |
Yes |
Amenities
- Smoke Detector
Unit Amenities
- Washer/Dryer Hookup
- Heating
- Tile Floors
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Sprinkler System
- Range
- Tub/Shower
- Intercom
- Patio
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Fenced Lot
- Laundry Facilities
- Wheelchair Accessible
- Bicycle Storage
- Elevator
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | - | 523 - 643 |
| 2+1 | 11 | - | 759 - 808 |
| 2+2 | 4 | - | 808 - 847 |
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Walk Score ®
Walker's Paradise (98)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Biker's Paradise (98)
zoning
| Zoning Code | R8B FAR 4.0 & R8A FAR 6.0 (R8B FAR 4.0 and R8A FAR 6.02 w/ C1-5 overlay) |
| R8B FAR 4.0 & R8A FAR 6.0 (R8B FAR 4.0 and R8A FAR 6.02 w/ C1-5 overlay) |
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351 EAST 4TH STREET, LLC
351 E 4th St
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