Rent-stabilized shit hole
Pros
Rent-stabilized and great location
Cons
Owner does only emergency repairs and does them cheaply - long, difficult, and tiring process trying to get anything fixed, even issues as urgent as collapsed ceiling. No concern for safety of tenants. Doesn't spend the money on a super, as required by law. Dangerous building to live in..
Advice to the owners
Care about your tenants as something more than cash. This is their home. You get a tax break for rent-stabilization so excuses for not having the money to make repairs are a joke.
You get what you pay for
Pros
Affordable apartments on a quiet block
Cons
Issues galore compounded by an inattentive landlord
Advice to the owners
Fix, repair and renovate