![[Crown Heights Real Estate, listing number 3325104]](https://www.vlshomes.com/images/full/3325104a.jpg)
![[PHOTO]](https://www.vlshomes.com/images/full/3325104b.jpg)
![[PHOTO]](https://www.vlshomes.com/images/full/3325104c.jpg)
![[PHOTO]](https://www.vlshomes.com/images/full/3325104d.jpg)
![[PHOTO]](https://www.vlshomes.com/images/full/3325104e.jpg)
| Description: 3325104 | |
| Exceptional 16-unit multifamily building featuring a balanced mix of 14 free-market and 2 rent-stabilized apartments. The property offers strong current income and significant upside potential through 12 fully renovated, large-format free-market units. Highlights 16 Total Units 14 Free-Market Apartments â?? large, renovated 3â??4 bedroom layouts 2 Rent-Stabilized Apartments â?? providing steady, long-term cash flow All units have individual heating systems (tenants pay for heat) Air conditioning in every unit Low operating expenses due to tenant-paid utilities High demand for large family-sized apartments in the area Investment Summary This asset offers investors a rare combination of stability and growth. The 14 free-market units were historically deregulated prior to 2019 through legal pathways such as Individual Apartment Improvements and high-rent vacancy decontrol. Under current law, these apartments are permanently free-market, allowing rents to adjust freely with demand. The 2 stabilized units provide a reliable income base, with additional upside through modest rent guideline increases and permitted IAIs. Tenant-paid heat and utilities further reduce landlord expenses, enhancing NOI. Investor Highlights Strong in-place income with majority free-market exposure Upside potential via free-market rent growth Low maintenance costs and minimal owner responsibilities Balanced rent roll combining stability and flexibility Excellent opportunity for a value-focused multifamily investor | |
Details: |
||
| Families: | 16 | |
| Bedrooms: | 52 | |
| Bathrooms: | 16 | |
| Property Type: | Multi-Family | |
| Built: | 1910 | |
Financials: |
||
| Price: | $5,175,000 | |