Property Detail

Description

A 15-unit Multifamily Located in Noho West With over 60% Upside on rent and currently operating at a 5% CAP Rate. the Property Boasts an Appealing Blend of Units (7 2bedrooms & 8 1bedrooms), All Surrounding a Stunning Courtyard. Each Unit Offers Spacious Living Areas and Private Balconies. The property currently collects $270K in rent with proforma rents reaching $427K, resulting in a Proforma GRM of 8.19 and Proforma CAP rate of 9.65%. Recent Capital Improvements include EQ Retrofitting, Main Panel Upgrades, new asphalt and Three Units with Complete Interior Renovations