7.1% Cap Rate, 7.8 GRM, $3,113 monthly rents: Exceptionally maintained, professionally managed and mostly restored brick 4 Family in the Washington Heights neighborhood with 100% occupancy. All units have two-bedrooms with ornate woodwork, pantry, tile bath surrounds, ceiling fans, separate utilities and 4 individual garage spaces. Some of the $100k+ in updates include: 4 furnaces (one with central air), electric, roof, dormers, gutters, storm windows, carpeting/laminate/tile flooring, two units with refinished wood, 2 of 4 water heaters, appliances (half stainless), keyless entry, lighting, and 4 coin laundry machines (included). Pay no utilities; value-add opportunities still exist! Property being sold to participate in a 1031 Exchange; owner financing not available. $289,900.
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