196 Driving Park Avenue

Investment Opportunity – 8 Unit Multifamily. Well-positioned 8-unit multifamily property offering immediate value-add potential with minimal renovation risk. Featuring a desirable unit mix of four one-bedroom apartments and four studio units, this property is ideal for investors looking to lease up and stabilize. Current Income: • 1BR – $980 • 1BR – $1,149 (includes utilities) • 1BR – $700 • 5 Units currently vacant and ready for lease-up Utilities & Mechanical Systems: • Separate forced hot air furnaces for each unit • Individual electric panels (circuit breakers) • Separate hot water tanks Tenants pay their own utilities, helping reduce operating expenses. Property Features: • Solid all-brick construction • Large lot • Tear-off roof completed in 2024 • Certificate of Occupancy valid through 1/22/2028 • Vacant units to be delivered rent-ready Annual Expenses: • Taxes: $6,638 • Insurance: $2,812 • Trash: $1,400 Investment Highlights: Over 60% of the building is vacant, allowing a new owner to control tenant selection and maximize rental income from day one. Ideal for investors seeking a straightforward lease-up strategy with strong potential for increased cash flow and appreciation. Cash buyers please or please provide a bank term sheet indicating a willingness to lend on a near vacant building. Don’t miss this opportunity to acquire a high-upside asset with key improvements already completed. Schedule your showing today.