218 E 111th St APT 1, New York, NY 10029

Alta Real Estate presents 218 East 111th Street. This well maintained 25" wide, 8 unit rental bldg is fully occupied and sits mid-block between 2nd and Third Avenues in East Harlem, just 2.5 blocks to the #6 Train on Lexington /110th Street. All units are railroad style 1 bed, 1 bath units and tenants pay for their own electric. All units are rent stabilized. The building enjoys a rare and sought after 2B tax class status which ensures extremely low property taxes now ($595/mo) and is highly desirable for limited future property tax increases as well. The property is built 25′ × 60 ’ and has a private 1,000 sf backyard. Current income minus expenses is 2X the return from buying a similar one unit apartment in Manhattan. This well priced asset is an incredible opportunity to own 8 units for the price of one with fantastic longterm upside for generations to come