Rent Stabilized units

[Mallikarjun Reddy Pateel]

I find this Property in Brooklyn, capping at 6.5% Purchase price is $1.5 Mil. has 8 Units.

When I look at the Numbers Rents are almost 50% below the Market Value, sounded Like a Value add. During diligence turned out its a Rent Stabilized Building.

my Question is if it’s a Rent stabilized Building and Rents are Way below the Market value can you apply to Municipal Board to Make it up to the Market Value? Or Can you get Section 8 Clients to fill the Vacancies to Charge them Market Value( because I know Section 8 agencies verify the Rents based on Market value)