For Sale $12,800,000
Property Type Multi-Family
Property Size 41,500 SF
Units 54
Lot Size 150,000 SF
# of Floors 4
Property Tenancy Multi-Tenant
Building Class C
Year Built 1922
Date Updated Dec 22, 2022
Construction Type Brick

0PPORTUNITY ZONE- PORTFOLIO- 54 UNITS (package of two buildings with 27 units rent stabilized large apartments. Can be sold as a package or can be sold separately) Property is well maintained inside and out by long term owner.

There are 15 one bedroom apartments and 12 two bedroom apartments in each building with clean open layout basement.

Solid built brick construction -4 floor walk up, sits on Large lot 150x100 and it offers 41,500 internal GLA. Undeveloped air rights 10,050 square-feet for use residential and community facility Rental increases are based on legal guidelines set by NYC Rent Guidelines Board, currently approved increases are for 2.4% for one year lease and 4 to 6% for two year leases. Investors can expect great upside due to current rents falling below market rates for the area.

See Virtual Tour Attached.https://fusion.realtourvision.com/idx/247692

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Highlights

Great family area, culturally diverse neighborhood. Map LP1831 landmark district boundaries
82nd street & Roosevelt Ave at north west corner is the subway station #7 line.