341 East 65th Street comprises two contiguous five-story walkup buildings situated in the heart of Lenox Hill, just two blocks from the renowned Memorial Sloan Kettering Cancer Center. The property features a total of 40 one-bedroom apartments, with 28 being rent stabilized, 8 free market, and 2 rent controlled. Current rents average approximately $39/SF or $1,652/month, presenting a significant opportunity for investors as the market could support rents closer to $70/SF or $2,543/month. The area is experiencing heightened demand due to the upcoming Second Avenue Subway, enhancing its appeal for both residents and investors alike.
The apartments at 341 East 65th Street are characterized by hardwood floors, ample closet and cabinet space, and open kitchens featuring Italian marble. Notably, the building offers quick access to public transportation, including the F, N, Q, and R trains, making it convenient for daily commutes. Residents can enjoy nearby amenities such as St. Catherine's Park, a variety of shopping options, and numerous restaurants, all contributing to the vibrant neighborhood atmosphere.
This building has also attracted notable residents, adding to its allure. The combination of its prime location, diverse apartment offerings, and the potential for future growth makes 341 East 65th Street a compelling choice for those seeking a home in New York City's Upper East Side.