Rent report generated Dec 27, 2024
The Rent Potential of
1 Irving Pl Apt U12B New York, NY
is $5,150 – $6,298/mo.
Rent Advice
This 1-bedroom condo in Union Square, NYC, boasts a desirable location with its proximity to public transport and shopping. With an average monthly rent ranging from $5,150 to $6,298, the property can generate annual revenue between $61.8K and $75.6K. Given the current market dynamics and the building's amenities, such as a gym and doorman service, the payback period is favorable. Unique features include Union Square views, contributing to rental appeal, though HOA fees could be a challenge.
To maximize rental value, consider updating the kitchen and bathroom to modern standards. Adding in-unit laundry could also attract higher-paying tenants. If considering selling, highlight the property's location and building amenities. These improvements can justify a premium rent or sale price, appealing to both renters and buyers seeking luxury living in a prime NYC location.
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