85 W 28th St

This well-maintained, 2-story building with 4,905 sq ft of living space sits on a 6,450 sq ft lot and was built in 1971. Key updates include a 1 year old roof, security cameras and impact windows. The property features a mix of four 1BD/1BA units and four 2BD/1BA units. It is 100% occupied on flexible month-to-month leases, offering an ideal opportunity for rent optimization in a market with consistent year-over-year growth.
Annual Gross Income: $124,800
- Operating Expenses: $49,000
- Net Operating Income (NOI): $75,800 GRM 13.62 (4.69% cap rate at asking price)
- Pro Forma Potential: Immediate 5-10% rent upside due to below-market rates and strong local demand.
DO NOT DISTURB THE TENANTS.