19 Clinton Ave
4 Apartments and 10 Licensed Rooms / $192,600 Gross Income
Marketing description
Great opportunity to acquire a fully licensed, fully occupied 14-unit income property at 19 Clinton Avenue, generating $192,600 in gross annual rent and a strong 9.61% cap rate at the $1,300,000 asking price. The property is configured as four self-contained apartments (two 2-bedrooms and two 1-bedrooms) plus a ten-room rooming-house component, providing a powerful blend of stable apartments and per-room rentals for great cash flow. Whether you're an investor looking to plug an immediate $124,915 NOI into your portfolio, or a buyer looking to reposition, 19 Clinton Avenue is a turn-key opportunity in a stabilized building with real upside.
Investment highlights
Current ownership invested heavily in unit-level renovations — all four apartments and seven of the ten rooms have been fully updated, leaving only Rooms 3, 6, and 8 as built-in upside on turnover. Major systems are dialed in: roof was replaced around 2017, a brand-new hot water heater was installed in June 2024, and all required rooming-house and rental licenses are in hand and current. Apartment tenants are responsible for their own electric, while the owner provides heat and hot water — a clean, predictable expense structure with a tightly underwritten 8% vacancy allowance and 3% R&M reserve built into the offering.
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