For Sale
$9,000,000

1330 3Rd AveNew York, NY 10075

Nine-unit building, high ROI potential

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional mixed-use property, located at 1330 3rd Avenue in New York City's desirable Upper East Side, presents a compelling investment opportunity. The five-story building encompasses 7,312 square feet on a 1,463 square foot corner lot at the northwest corner of East 76th Street and 3rd Avenue. Currently operating at 100% occupancy, the property boasts nine units: eight free-market residential units (four one-bedroom and four two-bedroom apartments) and one commercial retail space. The building is classified as Class C with a NNN lease type and single tenancy. The current Net Operating Income (NOI) is $398,624, yielding a 4.43% cap rate. However, a pro-forma NOI of $575,732 projects a significantly higher 6.40% cap rate, indicating substantial value-add potential. The asking price is $9,000,000, translating to a price per square foot of $1,230.85. The property benefits from its prime location, conveniently served by the 6 and Q subway lines. Zoned C1-9, this asset offers a rare chance to acquire a well-maintained, cash-flowing building with significant upside potential, held by the same family for 45 years and now offered for sale for the first time. This is a value-add investment opportunity with strong potential for future growth.

Highlights

  • Exceptional mixed-use investment opportunity on the Upper East Side at 1330 3rd Avenue.
  • Five-story building (7,312 sq ft) on a 1,463 sq ft corner lot at 76th & 3rd.
  • Nine units: eight residential (four 1BR, four 2BR) and one retail space; 100% occupancy.
  • Class C building, NNN lease, single tenancy; current NOI $398,624 (4.43% cap rate), pro-forma NOI $575,732 (6.40% cap rate).
  • Asking price: $9,000,000 ($1,230.85/sq ft); C1-9 zoning; near 6 & Q subway lines.

Property Details for 1330 3Rd Ave

Property type
Mixed-use properties, Apartment buildings
Square Feet
7,312 SF
Class
C
Buildings
1
Units
9

Location Insight

City
New York
County
New York
State
New York
Latitude
40.7725396
Longitude
-73.9588899
1330 3Rd Ave, New York, New York

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1330 3Rd Ave
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