Investment Overview

THE OFFERING Marcus & Millichap is pleased to offer the following opportunity located in the booming East Village/Lower East Side neighborhood. 301 East Houston Street is located on the South side of East Houston Street between Clinton & Attorney Streets and contains an approximate gross square footage of 3,600. The property is built 18 ft X 52 ft on a 18 ft X 52 ft lot. The property is zoned R8A, C1-5 and is located in a Qualified Opportunity Zone. THE OPPORTUNITY Building Overview & 100% Free Market. This 4-story property features three floor-through residential units upstairs and an ~800 SF ground floor retail space. There are two 2BR apartments upstairs and one 1BR apartment, all of which can be converted to 3BR apartments. Having less than six residential units, 301 East Houston Street is a 100% free market property and has never been subject to rent regulation. Additionally, the subject asset is located in a Qualified Opportunity Zone providing additional tax benefits. Protected Tax Class 2A. 301 East Houston Street falls into the highly desirable tax class 2A designation. As such, annual taxes can increase by no more than 8% year-over-year, and by no more than 30% in any given 5-year period. Value Add & Retail Repositioning. 301 East Houston Street represents a truly unrivaled value-add & retail repositioning opportunity. Any investor can capture significant upside by seamlessly converting the upstairs apartments into 3BR 1BA units. Additionally, the retail portion of the building is currently vacant, allowing both a retail repositioning opportunity as well as an end-use for any purchaser. Multiple Investment Strategies. 301 East Houston Street features multiple investment strategies, including, but not limited to: benefiting from an existing stream of strong rental income upstairs, capitalizing on additional upside by creating 3BR units upstairs, end user potential to occupy the vacant retail space, or capturing upside in the mark-to-market upside that exists in the upstairs units. End User Potential. The retail portion of the asset is currently vacant and can be delivered vacant upon sale, providing a prime opportunity for an end-user investor.