196 Driving Park Ave

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.