248 32Nd St New York, NY 10016

Property Details for 248 32Nd St

Year built

1910

Lot size

0.06 lot acres

Property size

5,750 SF

Zone code

R7B

Property type

Residential income homes

Property subtype

Serviced apartments

APN

00912-0040

APU

9120040

Description

This exceptional 7-unit apartment building presents a compelling investment opportunity in the thriving Murray Hill neighborhood of New York City. Located at 248 E 32nd St, this 25-foot-wide property boasts a desirable mix of units, including six renovated one-bedroom apartments and a stunning 2,400 square-foot triplex. The triplex features three south-facing windows, a fireplace, and a private 1,200 square-foot garden, offering a unique live-plus-income potential. The building's free-market status ensures strong rental growth and inflation hedging, while its Tax Class 2B designation optimizes long-term cash flow. With a total square footage of 5,750 and an asking price of $5,700,000, this property offers a compelling cap rate of 4.19% and a Net Operating Income (NOI) of $238,698. The convenient location, just blocks from the 6 train and across from Fairway Market, adds to its appeal. This meticulously maintained building represents a rare opportunity to acquire a high-performing asset in a prime Manhattan location. The building was constructed in 1910 and offers 1600 square feet of additional space beyond the 5750 square feet of the building itself. Each unit is priced at $814,285.71. This property is ideal for both cash-flow investors seeking strong returns and those looking for a live-in opportunity with significant rental income.

Location Insight

City

New York

County

New York

State

New York

Longitude

-73.9775

Latitude

40.7435

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments