Multi-Family: MLS #497842

Exceptional 16-unit multifamily building featuring a balanced mix of 14 free-market and 2 rent-stabilized apartments. The property offers strong current income and significant upside potential through 12 fully renovated, large-format free-market units. Highlights 16 Total Units 14 Free-Market Apartments – large, renovated 3–4 bedroom layouts 2 Rent-Stabilized Apartments – providing steady, long-term cash flow All units have individual heating systems (tenants pay for heat) Air conditioning in every unit Low operating expenses due to tenant-paid utilities High demand for large family-sized apartments in the area Investment Summary This asset offers investors a rare combination of stability and growth. The 14 free-market units were historically deregulated prior to 2019 through legal pathways such as Individual Apartment Improvements and high-rent vacancy decontrol. Under current law, these apartments are permanently free-market, allowing rents to adjust freely with demand. The 2 stabilized units provide a reliable income base, with additional upside through modest rent guideline increases and permitted IAIs. Tenant-paid heat and utilities further reduce landlord expenses, enhancing NOI. Investor Highlights Strong in-place income with majority free-market exposure Upside potential via free-market rent growth Low maintenance costs and minimal owner responsibilities Balanced rent roll combining stability and flexibility Excellent opportunity for a value-focused multifamily investor