Mismanagement and no Accountability
Pros
The building is a landmark. It has all the potential in the world but no one that truly cares about it. There is a backyard and a lot of outdoor space. Many bathrooms.
Cons
The whole space was entirely mismanaged. It was a mess. The gutters were always full which lead to leaks, which led to holes in the ceiling, which lead to mold. The landlord basically left it up to the tenants to take care of maintenance issues which were not clearly defined at the beginning. The floors are slanted, leaks are everywhere. They refused to do a mold inspection and wanted to argue with us every step of the way. No good. There is a serious rat infestation as well.
Advice to the owners
Listen to your tenants and don’t get into business deals with people who don’t know what they are doing. The house is old and needs constant maintenance and upkeep. Hire a real property manager, fix the rat infestation and actually preserve the thing or don’t buy properties you can’t manage,
/-73.941982,40.717136,14/640x640@2x?access_token=pk.eyJ1Ijoib3BlbmlnbG9vIiwiYSI6ImNsYjNmMjVwdzBjeHgzd21wYmJmZDB0eGYifQ.XZvZCOh51yXuDBE-I3Bg0A)
/-73.9608,40.681041,14/640x640@2x?access_token=pk.eyJ1Ijoib3BlbmlnbG9vIiwiYSI6ImNsYjNmMjVwdzBjeHgzd21wYmJmZDB0eGYifQ.XZvZCOh51yXuDBE-I3Bg0A)