7 W 24th St
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7 W 24th St
7 Unit Apartment Building $21,696,053 CAD ($3,099,436 CAD/Unit) 4% Cap Rate New York, NY 10010
INVESTMENT HIGHLIGHTS
- Prime Flatiron Location
- Skylights
- Exposed Brick and Tin Ceilings
- High Ceiling Spacious Lofts
- Private Decks
- Ground Floor Retail
EXECUTIVE SUMMARY
Superbly located and fully occupied, 7 West 24th Street is a five-story mixed-use building offering a turnkey income-producing investment or future development opportunity. The building includes ground-floor retail and six residential apartments above.
Built in 1925, this prime Flatiron gem measures 24 feet wide on a 98-foot-deep lot. The ground-level retail is occupied by a thriving dermatology practice. The residential units include two full-floor two-bedroom apartments and four half-floor one-bedroom apartments, all well-updated with great character and ceiling height.
Leases have built-in escalations and the building has development potential.
Setup available upon request.
Built in 1925, this prime Flatiron gem measures 24 feet wide on a 98-foot-deep lot. The ground-level retail is occupied by a thriving dermatology practice. The residential units include two full-floor two-bedroom apartments and four half-floor one-bedroom apartments, all well-updated with great character and ceiling height.
Leases have built-in escalations and the building has development potential.
Setup available upon request.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,078,418
|
$129.24
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$1,078,418
|
$129.24
|
| Taxes |
$162,403
|
$19.46
|
| Operating Expenses |
$65,526
|
$7.85
|
| Total Expenses |
$227,929
|
$27.32
|
| Net Operating Income |
$850,488
|
$101.93
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,078,418 |
| Annual Per SF | $129.24 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,078,418 |
| Annual Per SF | $129.24 |
| Taxes (CAD) | |
|---|---|
| Annual | $162,403 |
| Annual Per SF | $19.46 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $65,526 |
| Annual Per SF | $7.85 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $227,929 |
| Annual Per SF | $27.32 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $850,488 |
| Annual Per SF | $101.93 |
PROPERTY FACTS
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Oven
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 2 | $14,465 CAD | 1,400 - 1,450 |
| 1+1 | 4 | $6,871 CAD | 725 |
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Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 0826-0033 | Total Assessment | $1,597,370 CAD (2024) |
| Land Assessment | $605,360 CAD (2024) | Annual Taxes | $162,403 CAD ($19.46 CAD/SF) |
| Improvements Assessment | $992,010 CAD (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
0826-0033
Land Assessment
$605,360 CAD (2024)
Improvements Assessment
$992,010 CAD (2024)
Total Assessment
$1,597,370 CAD (2024)
Annual Taxes
$162,403 CAD ($19.46 CAD/SF)
Tax Year
2023
ZONING
| Zoning Code | K4 (K4 - Predominant Retail with Other Uses Presently retail front dermatology office with six residential rental units above.) |
| K4 (K4 - Predominant Retail with Other Uses Presently retail front dermatology office with six residential rental units above.) |
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7 W 24th St
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