The subject property is prime corner, 6-story mixed-use walk-up apartment building featuring 15 residential units and 2 retail stores. Four (4) of the units are currently rent stabilized while the remaining eleven (11) are fair market. Ten of these fair market units have been renovated while one is currently vacant and under renovation. The building has undergone improvements in the past few years including a new gas boiler, a new sidewalk, new pointing, new common area tiles, and a renovated roof. The current apartment breakdown consists of three (3) three-bedroom apartments, seven (7) two-bedroom apartments, and five (5) one-bedroom apartments. The rent regulated units are renting for less than 40% of market or a mere $24 per square foot approximately, creating substantial upside within these units. Additionally, the fair market rents currently in place are approximately 10% below market. The building also receives revenue from signage and a cell tower on the roof. Furthermore, the property features additional air-rights that could be used to expand a top floor apartment into a duplex and provide access to a rooftop patio which could produce additional revenue. As a result, the cell phone lease contains a relocation clause for this purpose. The gross annual revenue with projections for the month-to-month apartments is approximately $835,000 with a net operating income of approximately $652,000, while the pro-forma revenue reflecting the potential upside in the free market units is almost $880,000 with a projected net operating income of approximately $705,000.