274 E 10th ST New York (manhattan), NY 10009
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID KEY811768
Rental Info No
Year Built 1900
Annual Tax Amount $67,927
Lot Size 2,491 Sqft
Acres 0.0572
Property Sub-Type Multi Family
Source onekey2
Property Description
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
Location
State NY
County New York (manhattan)
Rooms
Basement Unfinished
Interior
Heating Steam
Cooling Individual Units
Fireplace No
Exterior
Utilities Available Natural Gas Connected
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Special Listing Condition None
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