Solid income producing property with upside.

5 Story Walk Up building - Built in 1915 + Ground floor located on a quiet tree-lined street on East 90th Street (between First and Second Avenues) in the Upper East Side, one of Manhattan's most mature and stable rental markets.

The property, which seats on a 25 x 100 foot lot is currently configured as:
GROSS SQFT: 9,813 - 25 FEET BY 70 FEET DEEP
LOT: 25 X 100.67 FT (BLOCKL 01553-0014)
Above grade: 8605 Sqft
Ground Floor: 1313 Sqft
Available Air Rights: 1460 Sqft
Rear yard: 750 Sqft

The property features 12 Residential Units - 92% of Units are Free Market (one unit is RS):
- 2 Studios
- 2 x duplex 2 Bedroom with private access to the rear yard
- 8 x 2 Bedrooms
Note:
Ability to Duplex Up Top Floor Apartments
Ground Floor Unit with Garden Access is Significantly Below Market
The 2 duplex units could be converted in 4 studios (Projected: 14 Units)

The roof of the building was completely remade in 2017 and it is guaranteed for 10 years by the construction company.

323 East 90th Street presents an investor the chance to acquire a strategically located and well- maintained multifamily building with significant in-place cash flow and remaining upside thanks to the strong post-Covid rental rebound and the possibility of further value-add development options.(Projected Rent Roll: $465,000)

The property is conveniently located in close proximity of 2nd Avenue - Q Line 86th Street and 4/5/6 subways stations on Lexington Ave. Within distance to Carl Schurz, Ruppert, Whole Food and Central Park.

The Super leaves off site.

Property Details of 323 East 90th Street, Unit Building

Property Details

Map Location

Driving Directions

Listed by Giampiero Rispo and Veronique Lerebours of Domus Arbiter Realty Corp.

Based on information submitted to REBNY as of August 14, 2022 8:19 AM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

 
 

 

 

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