Description
East Village Investment Opportunity: 274 East 10th Street Offered at $6, 200, 000Located 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, 0001-Bedrooms: $3, 5002-Bedrooms: $4, 600+3-Bedrooms: $6, 500Conclusion: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