*. Excellent opportunity to acquire a 12-UNIT multifamily building in the heart of East Harlem, NY. This well-maintained, Fire Sprinkler installed, renovated walk-up property is filled with spacious pre-war apartments, ranging from Bedrooms (x5), Studios (x6) and Two-Bedroom Apt (x1) that attract a strong rental demand and provide steady cash flow. Fully occupied, all apartments are rent-stabilized, with no rent control. Rental Income: $160,200, Operating Expense:$40,506, Net Oper Income: $119,694. The building is situated in a prime location, surrounded by numerous shopping and dining options.
*. For Hotel, this building is zoned for Hotel operation if desired.
*. For Maximum buildable area, you even can build extra three stories (x3) if needed.
*. With a CAP rate 6% as well as $120,000 annually in Net Profit, the property offers immediate income as well as long-term appreciation potential. Detailed ROI can be provided upon request.