One-Bedroom Residential Income
321 E 48TH Street 9D, Manhattan, NY 10017
For Sale
$645,000
Sunlit condominium residence with updated interiors, a windowed kitchen, and access to doorman building services.
Property Size750 SF
Price / SF$860
Days on Market59
Property Features for 321 E 48TH Street 9D
General Information
Standard status
Size
Elevators
Property subtype
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
laundry facilities
bike storage
storage
Building Details
Building Size
Year Built
Listing Agency:
ICONIC PROS
Listed By:
Shail Barot · License #10401343910
(929) 273-8757
Source:
Philipscheinfeld
Added: Sep 10
Changed: Nov 6
Last Checked: Nov 6 at 6:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ICONIC PROS
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Investment Insights
Based on property information with market context.
Residence 9D is a one-bedroom, one-bath condominium spanning 750 square feet, with southern and western exposures that bring natural light into the living areas. The home includes a windowed kitchen with an externally vented fan, a new Avanti gas range, and extensive cabinetry. Fresh paint, luxury vinyl plank flooring, Bali faux wood blinds, and generous bedroom storage add to the interior improvements.
The property is within an elevator building with a 24-hour doorman, laundry facilities, bike storage, additional storage, and pet-friendly policies. All utilities other than electricity are included. The residence is located at 321 E 48TH Street in Turtle Bay, near Dag Hammarskjold Plaza, East Midtown waterfront paths, Trader Joe’s, Whole Foods, dining, shopping, Grand Central, and major transportation. The building dates to 1962.
The property is within an elevator building with a 24-hour doorman, laundry facilities, bike storage, additional storage, and pet-friendly policies. All utilities other than electricity are included. The residence is located at 321 E 48TH Street in Turtle Bay, near Dag Hammarskjold Plaza, East Midtown waterfront paths, Trader Joe’s, Whole Foods, dining, shopping, Grand Central, and major transportation. The building dates to 1962.
Key Highlights
- 750‑square‑foot one‑bedroom, one‑bath condominium
- South and West exposures provide natural light
- Windowed kitchen with external vent fan and new Avanti gas range
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,465
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$469,300
$469.3K
Cap Rate 7%
$335,214
$335.2K
Cap Rate 9%
$260,722
$260.7K
Market Conditions
NOI Build-Up for 750 SF
Gross rent
$44.9K $59.88/SF
− Vacancy
−$2.2K −$2.99/SF
EGI
$42.7K $56.89/SF
− OpEx
−$19.2K −$25.60/SF
NOI
$23.5K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$469,300
Cap Rate 7%
$335,214
Cap Rate 9%
$260,722
Alternative Uses
Best Use
Apartment 5plus
$335.2K
$293.3K – $391.1K
NOI $23,465 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.87M
$1.63M – $2.18M
NOI $130,680 @ 7.0% cap · market cap 20.26%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
38,138
Businesses Nearby
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Business Placement
Demographics for 10017, NY
17,401
Population
12,866
Households
1.4
Avg Household Size
38
Median Age
85%
College-Educated
97%
High-School Grad
0.3 sq mi
ZIP Area
58,003
Density / Sq Mi
$132,518
Median Household Income
$94,214
Median Earnings
$2,980
Median Rent
$808,200
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - Sunlit condominium residence with updated interiors, a windowed kitchen, and access to doorman building services.
Where is this residential income property located?
The property is located at 321 E 48TH Street 9D Manhattan, NY.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: 750‑square‑foot one‑bedroom, one‑bath condominium; South and West exposures provide natural light; Windowed kitchen with external vent fan and new Avanti gas range
