322 W 65th St
Property Description
SIGNIFICANT CAPITAL IMPROVEMENTS AND REPOSITIONING MOMENTUM Current ownership has invested nearly $4 million in capital improvements, laying a strong foundation for continued value creation. Recent enhancements include full roof and siding replacements, updated soffits and fascia (completed in 2022), and a comprehensive exterior lighting upgrade. Ownership has also replaced most decks and stair systems and modernized multiple HVAC units. These improvements establish Maplewood Apartments as a well-positioned asset, allowing a new investor to focus on operational efficiencies and driving rent growth through continued interior enhancements. INTERIOR MODERNIZATION OPPORTUNITY WITH STRONG RENT UPSIDE Of the community’s 204 units, 114 have already been renovated, demonstrating clear proof of concept for revenue growth through modernization. The remaining 90 classic units provide a tangible opportunity to achieve rent premiums exceeding $100 per unit per month through strategic cosmetic updates such as new flooring, cabinetry, lighting, and appliance packages. With the heavy lifting complete on exteriors, the next owner can capitalize on interior upgrades to elevate overall property performance.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 204 |
| Year Built: | 1977 |
| Opportunity Zone: | No |
| Property Website | Click Here |
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