271 Griffith St

VALUE-ADD OPPORTUNITY

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  6 Units

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  $179K Price Per Unit

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  67% Upside

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  Average rents $1,290 with Market rents $2,150 ($860+ difference on turnover)

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  11.66% Pro Forma Cap Rate

BUILDING HIGHLIGHTS

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  12+ Year Ownership

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  Roof Redone in 2024

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  Framing Replaced on Three Sides in 2024

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  One Water Tank Replaced in 2024

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  Two Water Heaters Replaced in 2023

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  Tenants Pay For Heat, Hot Water, Cooking Gas & Electric

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  Landlord Pays For Common Area Electric & Water/Sewer

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  Prime Location In The Heights

CONVENIENT TRANSPORTATION

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  The building is approximately 6 – minute walk to Central Ave at Griffith St Bus Stop which provides a 25-minute trip into Midtown Manhattan ± 1.0 miles to the Journal Square Path Station with direct access to NYC.