A 26’ wide 16 unit 4-story apartment building. The property has four units per floor, they are located to the front and back of the building. The apartments are a mixture of studios and one-bedroom units. Seven of the units are free market and nine are rent stabilized. All the apartments are individually metered for gas and electric. The basement has a unit, which is unfinished. The closest train station is on Fulton Street and Utica Avenue, which makes access to Manhattan within 15 to 20 minutes. The property is on a nice residential tree line block that is close to retail stores and community parks. There is 18.9% upside in the free market rents since they are averaging under $1,300 per apartment. All these factors makes the property a prime investment opportunity.
For financing, contact:
Canyon Mortgage Corp
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