2 BR 1 Bath in Northern Manhattan
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Description
This two-bedroom in Washington Heights has been vacant for almost two years. The previous tenant lived in the apartment for more than 30 years and never allowed the property owner access to the unit to make repairs over time.
It needs significant updates to keep up with mandated improvements. This housing provider actually loses less money by leaving this apartment empty because the legal rent is so far below market value.
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Cost
The legal rent is about $880.
Market rate rent is $2,300
The cost of renovation is at least $75,000
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Northern Manhattan 2BR
This two-bedroom in Washington Heights has been vacant for almost two years. The previous tenant lived in the apartment for more than 30 years and never allowed the property owner access to the unit.
