120 East 10th Street offers a unique investment chance on one of Manhattans most scenic blocks between 2nd and 3rd Avenues. This six-story townhouse boasts a quaint garden on the ground floor and a communal rooftop, merging tranquility with city life.
Current ownership has readied it for renovation with complete architectural designs, approved permits, and landmark clearances, and it is ready for immediate action. These plans, worth around $130,000, can be transferred to the new owner.
The renovation targets enlarging bedrooms and bathrooms and adding luxury finishes and appliances for a boutique hotel-style dwelling. Ideal for both long-term and premium short-term leases.
These improvements are expected to boost NOI by about 52%, highlighting its considerable potential for growth.
The current NOI is $314,000, which represents a $6,280,000 Value on a 5-CAP
The projected NOI is $477,531, which represents a $9,550,000 Value on a 5-CAP
100% free market
Gross 3800 sf
Four residential units
Unit #1 4 bedroom / 2bath Duplex /Private Garden
Unit #2 2 bedroom / one bath
Unit #3 2 bedroom / one bath
Unit #4 4beroom / 2bath Duplex
Shared common rooftop
Laundry room and a storage room
Current NOI $314,000
The Certificate of Occupancy (CO) is a four-family home.
Allows for residential -financing.
Clean Title and No Violations.
Approved architectural drawings and permits
All Tenant leases included a 90-day termination clause.
Courtesy of APT212 INC
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