605 East 11Th Street Multifamily Building for SALE
605 East 11th Street East Village New York, NY Multifamily Building FOR SALE ❖ INVESTMENT HIGHLIGHTS o Property address 605 East 11th St (East Village) o Lot area 2,559 sf o Building built-up area 9,718 sf o Zoning Residential district o Residential FAR 4 (3.8 as built) o Max usable building area 10,236 sf o Unused buildable area ca. 512 sf o Stories 5 o Number of units 20 o Tenancy type 17 FM, 2 RS, 1 RC o Average unit size 486 sf o Type Walkup o Year built 1920 ❖ LOCATION ✓ ~ 10,000 SF located in the East Village neighborhood ✓ Excellent access to the L, 4, 5, 6 and N/Q/R subway lines ✓ Easy commute to Lower Manhattan and Midtown Office Districts ✓ One block away from Tompkins Square Park ✓ 0.6 miles (10-12 min walking) to Beth Israel Hospital ✓ 1 mile (~15 min walking) to NYU ✓ Close proximity to many popular retailers ✓ Abundant public and private schools ✓ Plenty of restaurants and distinguished entertainment options ❖ FINANCIALS Operating expenses $141,644 Units Bedrooms Lease type Monthly rent Annual rent % of Total Rental Income 1 1 RS $1,267 $15,208 Water $6,434 RC 1.6% RS 2 1 RS $1,276 $15,310 Con Edison $2,019 5.3% 3 1 VACANT $3,100 $37,200 Oil $14,944 Boiler $2,500 4 1 VACANT $1,520 $18,240 Super $4,200 5 1 VACANT $3,100 $37,200 Insurance $11,000 6 1 VACANT $3,100 $37,200 Repairs $3,850 7 1 FM $2,600 $31,200 Property taxes $96,697 FM 8 1 FM $2,500 $30,000 Net Operating Income $435,326 9 1 FM $1,927 $23,120 93.2% 10 1 FM $2,495 $29,940 11 1 FM $2,550 $30,600 12 1 VACANT $3,100 $37,200 13 1 FM $2,400 $28,800 14 1 FM $2,550 $30,600
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