Price Per Unit
$179,167
Units
6
Gross SQFT
3,900
Year Built
1930
NOI
$54,864
Property Type
Apartments
VALUE-ADD OPPORTUNITY
- 6 Units
- $179K Price Per Unit
- 67% Upside
- Average rents $1,290 with Market rents $2,150 ($860+ difference on turnover)
- 11.66% Pro Forma Cap Rate
BUILDING HIGHLIGHTS
- 12+ Year Ownership
- Roof Redone in 2024
- Framing Replaced on Three Sides in 2024
- One Water Tank Replaced in 2024
- Two Water Heaters Replaced in 2023
- Tenants Pay For Heat, Hot Water, Cooking Gas & Electric
- Landlord Pays For Common Area Electric & Water/Sewer
- Prime Location In The Heights
CONVENIENT TRANSPORTATION
- The building is approximately 6 – minute walk to Central Ave at Griffith St Bus Stop which provides a 25-minute trip into Midtown Manhattan ± 1.0 miles to the Journal Square Path Station with direct access to NYC.
Broker of Record
- Patrick Forde
- License No. 2330333 (NJ)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 52 Park Avenue,
Suite B5, Park Ridge NJ 07656