MultiFamily Property at 332 East 6th Street
$9,000,000
332 East 6th Street, New York, NY 10003
7,800 SF
Square Feet
$1,154
PPSF
6.00%
CAP
Property Description
NOI
$540,000
Cap Rate
6.00%
Marketing description
Marcus & Millichap is pleased to exclusively offer 332 East 6th Street, a 6-story multifamily building located on the south side of the street between 1st Avenue and 2nd Avenue. This 12-unit property is comprised of approximately 7,800 square feet with 25' of frontage. The building is 25' x 52' and sits on a 25' x 97' lot (Block: 447; Lot: 22). The property is zoned R8B.
Investment highlights
- High-End Finishes: Elevating the stature of this property is its newly renovated interiors. All 10 Free Market units within the building are adorned with Large Bedrooms, Hardwood Floors, Dishwashers, Kitchen with Stainless Steel Appliances and Granite Countertops, In-Unit Washer/Dryer, New Marble Bathrooms, and Amazing Light Throughout.
- Diverse Unit Mix: This six-story, pre-war, multifamily building contains 12 residential units. There is 1 Studio, 1 1-Bedroom, 1 2-Bedroom and 9 3-Bedroom apartment.
- 83% Free Market: 10 of the 12 residential units are Free-Market, allowing new ownership to take advantage of the robust rental market in the East Village.
- Location & Accessible Transportation: Located in the Heart of the East Village, 332 East 6th Street has a Natural Strong Demand Given its Centralized Location and Access to all the Neighborhood has to Offer. This creates a strong demand of renters and tenants given endless supply of restaurants, nightlife, parks, shopping, and transportation. The properties' nearby attractions include Tompkins Square Park, Astor Place, Union Square, NYU, Whole Foods and more. Top restaurants nearby include Cafe Mogador, The Bao, Oiji, Emmy Squared, Cacio E Pepe, Lavagna, Nowon, Buenos Aires and too many more to name. Conveniently Located steps from Astor Place Station and walking distance to Union Square.
Property Details
Asset Type
MultiFamily
Year Built
1900
Zoning
R8B
Neighborhood
East Village
Submarket
New York
ZIP
10003
Listing Type
sale
Net Operating Income (NOI)
$856,710
Debt Service Coverage Ratio (DSCR)
1.67x
Cap Rate
9.52%
Cash Flow (Annual)
$344,735
Cash-on-Cash Return
15.32%
Monthly Debt Service
$42,665
Annual Debt Service
$511,975
View on Map
Address
332 East 6th Street
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New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
No investors found in this market.