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East Village 608 E 9th St 24 Unit Apartment Building $9,810,220 CAD ($408,759 CAD/Unit) 5.54% Cap Rate New York, NY 10009
Investment Highlights
- Six-story multifamily building featuring twenty-four residential units in Manhattan’s East Village.
- Located between Avenues B and C and adjacent to Tompkins Square Park, enhancing tenant livability.
- First time on the market in over two decades, presenting an investment opportunity in a highly desirable rental corridor.
- Approximately 67% of units are free-market, offering income growth potential through management strategies.
- Convenient access to public transit: L train at 1st Avenue, F train at 2nd Avenue, and 6 train at Astor Place.
Executive Summary
608 East 9th Street presents the opportunity to acquire a well-positioned multifamily asset in Manhattan's East Village, one of New York City's most established and consistently sought-after rental neighborhoods. Located between Avenues B and C and adjacent to Tompkins Square Park, the property benefits from strong residential demand driven by its vibrant neighborhood character, extensive retail and dining offerings, and convenient transit access. With a combination of stable occupancy, a majority free-market unit mix, and a prime East Village location, 608 East 9th Street offers investors a compelling opportunity to capitalize on one of New York City's most resilient multifamily markets.
Property Facts
| Price | $9,810,220 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $408,759 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 5.54% | Building Size | 21,600 SF |
| No. Units | 24 | No. Stories | 6 |
| Property Type | Multifamily | Year Built | 1910 |
| Property Subtype | Apartment | ||
| Zoning | R7-2 - Medium-density apartment house district with lower parking requirements | ||
| Price | $9,810,220 CAD |
| Price Per Unit | $408,759 CAD |
| Sale Type | Investment |
| Cap Rate | 5.54% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 21,600 SF |
| No. Stories | 6 |
| Year Built | 1910 |
| Zoning | R7-2 - Medium-density apartment house district with lower parking requirements |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 24 | - | 900 |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Exceptionally bikeable
100/100
Property Taxes
| Parcel Number | 0391-0011 | Improvements Assessment | $1,538,702 CAD |
| Land Assessment | $189,230 CAD | Total Assessment | $1,727,932 CAD |
Property Taxes
Parcel Number
0391-0011
Land Assessment
$189,230 CAD
Improvements Assessment
$1,538,702 CAD
Total Assessment
$1,727,932 CAD
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East Village | 608 E 9th St
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