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115-117 Ludlow St 20 Unit Apartment Building $13,091,000 CAD ($654,550 CAD/Unit) 6.28% Cap Rate New York, NY 10002
Investment Highlights
- Two side by side buildings
Executive Summary
KW Commercial has been exclusively retained for the sale of this two-building multifamily portfolio on the Lower East Side of Manhattan, offered together as a single package.
The offering comprises two adjacent walk-up buildings totaling 18 residential units and two ground-floor commercial spaces. The 18 residential units consist out of 8 two bedrooms and 10 three bedroom apartments of which 10 are RS and 8 FM. The store front spanning a combined 2,900 sf was a former grocery store and offers immediate commercial lease-up upside for a new owner.
The offering comprises two adjacent walk-up buildings totaling 18 residential units and two ground-floor commercial spaces. The 18 residential units consist out of 8 two bedrooms and 10 three bedroom apartments of which 10 are RS and 8 FM. The store front spanning a combined 2,900 sf was a former grocery store and offers immediate commercial lease-up upside for a new owner.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,313,209
|
$82.61
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$47,388
|
$2.98
|
| Effective Gross Income |
$1,265,821
|
$79.63
|
| Taxes |
$246,860
|
$15.53
|
| Operating Expenses |
$197,079
|
$12.40
|
| Total Expenses |
$443,939
|
$27.93
|
| Net Operating Income |
$821,882
|
$51.70
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,313,209 |
| Annual Per SF | $82.61 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $47,388 |
| Annual Per SF | $2.98 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,265,821 |
| Annual Per SF | $79.63 |
| Taxes (CAD) | |
|---|---|
| Annual | $246,860 |
| Annual Per SF | $15.53 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $197,079 |
| Annual Per SF | $12.40 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $443,939 |
| Annual Per SF | $27.93 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $821,882 |
| Annual Per SF | $51.70 |
Property Facts
| Price | $13,091,000 CAD | Property Subtype | Apartment |
| Price Per Unit | $654,550 CAD | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.28% | Lot Size | 0.09 AC |
| Sale Condition | Bulk/Portfolio Sale | Building Size | 15,897 SF |
| Gross Rent Multiplier | 10.3 | No. Stories | 6 |
| No. Units | 20 | Year Built | 1910 |
| Property Type | Multifamily | ||
| Zoning | C4-4A - R7A equiv. | ||
| Price | $13,091,000 CAD |
| Price Per Unit | $654,550 CAD |
| Sale Type | Investment |
| Cap Rate | 6.28% |
| Sale Condition | Bulk/Portfolio Sale |
| Gross Rent Multiplier | 10.3 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 15,897 SF |
| No. Stories | 6 |
| Year Built | 1910 |
| Zoning | C4-4A - R7A equiv. |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | - |
| 3+1 | 10 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Numbers | Total Assessment | $2,009,209 CAD | |
| Land Assessment | $335,831 CAD | Annual Taxes | $246,860 CAD ($15.53 CAD/SF) |
| Improvements Assessment | $1,673,378 CAD | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$335,831 CAD
Improvements Assessment
$1,673,378 CAD
Total Assessment
$2,009,209 CAD
Annual Taxes
$246,860 CAD ($15.53 CAD/SF)
Tax Year
2026
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115-117 Ludlow St
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