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67 Ludlow St 20 Unit Apartment Building $4,495,128 CAD ($224,756 CAD/Unit) 6.50% Cap Rate New York, NY 10002
Investment Highlights
- Prime Lower East Side Mixed-Use Property
- Cap Rate: 6.5% on actual in-place income
- Price per Unit: $157,143
- Asking Price: $3,300,000
- 20 residential units (all rent-stabilized) plus 1 ground-floor retail
Executive Summary
67 Ludlow Street is a 21-unit mixed-use walk-up offered for sale for the first time in over four decades. The property comprises 20 rent-stabilized residential units and one ground-floor retail space, fully occupied at 100%, generating $368,737 in gross income and $214,693 in net operating income. At the asking price of $3,300,000, the asset reflects a 6.5% cap rate on in-place actuals, a $157,143 price per unit, and approximately $340 per gross square foot.
The building is positioned in the heart of Manhattan's Lower East Side, within two blocks of the Delancey-Essex Street transit hub and the Essex Crossing development. The lot measures 25 by 87 feet with C4-4A zoning. The ground-floor commercial tenant operates under a long-term lease through 2043 with contractual 3% biennial escalations.
This offering presents a sophisticated investor with a stabilized Manhattan cash-flow asset at a sub-$3.5M entry point, with operational optimization opportunities available to a buyer experienced in rent-stabilized portfolio management.
The building is positioned in the heart of Manhattan's Lower East Side, within two blocks of the Delancey-Essex Street transit hub and the Essex Crossing development. The lot measures 25 by 87 feet with C4-4A zoning. The ground-floor commercial tenant operates under a long-term lease through 2043 with contractual 3% biennial escalations.
This offering presents a sophisticated investor with a stabilized Manhattan cash-flow asset at a sub-$3.5M entry point, with operational optimization opportunities available to a buyer experienced in rent-stabilized portfolio management.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 20 | - | 330 - 350 |
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 0408-0020 | Total Assessment | $939,432 CAD |
| Land Assessment | $134,785 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $804,647 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
0408-0020
Land Assessment
$134,785 CAD
Improvements Assessment
$804,647 CAD
Total Assessment
$939,432 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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67 Ludlow St
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