Cheap "luxury"
Pros
New appliances, hardwood floors and W/D in unit, friendly neighborhood that is low key but not dead. Ridgewood has a sense of community with small business owners: coffee shops, thrift stores, restaurants and record shops.
Cons
Roaches in apartment, cheap labor used to renovate, 2/4 units are not renovated and not enough hot water for the building (Luke warm showers)
Advice to the owners
Take care of your plumbing, more frequent pest control and more transparency in communication. Also, replace the front door.