Upper East Side Value-Add Potential | 20 Apartments

518 E 83rd St, New York, NY 10028

Property Information

  • For Sale $8,000,000
  • Property Type Multi-Family
  • Property Size 8,120 SF
  • Units 20
  • Lot Size 0.06 Acre
  • Cap Rate % 6.6
  • # of Floors 5
  • Year Built 1910
  • Date Updated Aug 10, 2026

Description

  • Scalable Residential Mix: A substantial 20-unit building providing the density required for efficient management and diversified income.

  • 95% Free-Market Status: Nearly entirely exempt from rent regulation, offering ownership absolute control over lease terms, renovations, and market-rate adjustments.

  • Significant Rental Upside: Current rents are trending approximately 15–20% below market rates, providing a clear and immediate path to increased NOI through mark-to-market renewals or cosmetic upgrades.

  • Lifestyle & Connectivity Hub: Surrounded by Michelin-starred dining, elite boutiques, and lush parks, with seamless proximity to major transit lines for effortless citywide access.

Contacts

Location

Located at 518 E 83rd St, New York, NY 10028, this property is part of the Yorkville neighborhood and Manhattan market.

  • 96/100 Walker's Paradise
  • 100/100 Rider's Paradise
  • 80/100 Very Bikeable
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