Value-Add opportunity

• 7 Units
• 14% Upside in Rents
• 7.29% Cap Rate
• Average Rents $2,650
• 8.93% Cash on Cash
• Gross Income: $222,600

Building Highlights

• All oversized three-bedroom apartments
• Loft style + exposed brick
• Building gut renovated with condo finishes
• Laundry in the basement
• Rooftop Terrace
• Split units (heat & AC)+ on-demand hot water heaters for each unit
• Tenants pay for heat, hot water & electric
• Landlord pays for common area electric & water/sewer

Convenient Transportation

• The building is approximately a 3-minute walk to Ocean Ave At Wilkinson Ave bus stop which provides a 35-minute trip into Midtown Manhattan ±2.4 miles to the Journal Square Path Station with direct access to NYC