Building: 421 Pulaski Street

Fully Occupied 8 Unit Residential Property
Newly built property fully leased with an approved Condo Plan on Pulaski Street between Stuyvesant Avenue and Malcolm X Boulevard. This 3 story property has 8 apartments, all are rented and can remain that way, or sell off the condo units for a quick profit.
New construction built in 2011, this property consists of Three 3-Story buildings contiguous to each other. Two of them are 3 family homes, and one  is a 2 family home. This tax class is traditionally lower than a 4 family property or larger.  All 8 units are free market and leased. Each home pays their own utilities including heat, hot water and cooling. 
All homes have modern styling with spacious rooms, and great square footage. Several homes also have skylights and lofted ceilings.   Each unit contains central Air, compact gas fired boilers and hot water heaters.  All units have Stainless Steel appliances, stone  countertops, hardwood floors and private washer and dryer hookups.  Every unit has use of either private terraces, balconies, roof access by stairs or bulkhead, or back yard access.
This property, compared to existing prewar buildings with unknown repairs and upgrades required and troublesome tenancy., has tremendous value.  Current tenancy was placed through professional underwriting and tenant selection for quality tenancy. 
The property is an approved 8 Unit Condominium with a plan that has all of the current amendments and filings so you are ready to start selling tomorrow!  Upon declaring the plan effective each unit will have its own tax lot and the structure of ownership changes.  
The only common expenses for the owner are taxes, service contracts, water and sewer and a few light bulbs in the very limited public halls in two of the buildings.  

Building description provided by Adam Disick

Annual Income $284,400
Expenses

Condominium Fees $17,910
Property Taxes $30,576.00

Total Expenses $48,486.00

Net Income $235,914.00
Purchase Price $5,500,000.00
Cap Rate 4.29%