16 Stanhope Street, NY
8 Unit Walk-Up Building with 4 Renovated Free-Market Apartments
Overview
Key Highlights
- Price $3,250,000
- Location Close Proximity to Transportation
- Tax Class Protected 2B
- Total Units 8
- Free Market Units 4 Newly Renovated Units
Key Facts
• 4-story walk-up building with 8 apartments. 4 rent-stabilized and 4 free-market units
• Protected Tax Class 2B - limits property tax increases year over year
• Ability to raise rents with 3BR units in neighboring properties renting for north of $4,500/month
• Walking distance to public transportation via the JMZ lines as well as the B38 bus line
• Free market units have all been renovated and feature in unit washer/dryer, dishwasher, stainless steel appliances with spacious 3BR/2B layout
• Opportunity to invest in a building with low turnover and high demand keeping vacancy rates low while rents grow year over year
• Located in Bushwick, a neighborhood seeing immense growth and development offers many restaurants, bodegas, shops & experiences throughout
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