NORTH MONTICELLO AVENUE

Rehabilitation Cost: $180,000 (1985)

This 31-unit building was partially occupied at the time of purchase. However, it had suffered from deferred maintenance and poor management. Interior work included new bathrooms, appliances, carpeting, and energy conservation work. Exterior work consisted of tuck-pointing, roof repair, entranceway refurnishing and redecorating, and extensive landscaping. Performed without secondary financing.