Vacancy Opportunity: Two owner-occupied units (1L & 1R) will be delivered vacant, offering the potential to generate $3,000+/month each post-renovation, with higher rents possible depending on finishes.
Current Rent Roll:
Unit Breakdown:
Unit 1L Owner occupied (Rent Stabalized $2,200/month)
Unit 1R: Owner-occupied (Rent Stabalized $2,200/month)
Unit 2L (Rent-Stabilized): $2,196.15/month (Lease in place)
Unit 2R $2,250/month (Month-to-month)
Unit 3L (Rent-Stabilized): $2076.04/month starting (Renewed Lease for 3/14/2025)
Unit 3R : $2,250/month (Month-to-month)
Separate Electrical Meters and Gas Meters- Each unit has its own meter for simplified utility billing.
Potential Upside: Renovated units can achieve market rents exceeding $3,000/month, enhancing the property's income potential.