6 unit apartment building in up & coming Murray Hill sub-market. All six apartments are one bedroom one bathroom units and the building is 100% occupied. Huge value-add opportunity as rents are currently 20% below market. The building was remodeled 4 years ago with a new roof, new windows, all new plumbing, updated electrical, new stucco, and a light remodel on the interiors. Located on a quiet residential street, this low maintenance concrete block building will be a cash cow for the right investor. Potential NOI of over $30,000 and 10%+ cap rate after stabilization and rent increases to market rents. One water and sewer meter and individual electric meters, although Seller is currently paying for electric on 3 of the units. 5/6 leases are up in January to allow for quick rent increases
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