Sale Price: $8,900,000
Building Size: 12,558 SF
Cap Rate: 5.22%
Land Area: 0.05 AC
Sale Conditions: Auction Sale, Building in Shell Condition
Investment Notes:
A 23’ wide elevatored seven (7) story mixed use building. The building has a store on the ground
floor, and store on the second floor. Floors three through seven are two bedroom floor through loft
apartments. All the units have a terrace in the front, a full eat in kitchen, a full bath and a half bath.
The units have two bedrooms in the rear with outdoor space, and hardwood floors. The bedrooms
have big closets, and all the units have there own heating and AC unit. The building is sprinklered
through out, and is individually metered. All the apartments have 10’ ceilings.
The units are decontrolled and can be used for live work. The building is right of East Houston and
adjacent to Katz Deli.
The owner is looking to sell the building in as is condition, or he can finished the renovation for the
potential buyer. The building is a prime investment or condo conversion opportunity, because it allows
an investor to rent out the units at market rate or convert the apartments to condo.
