Description

Commercial Investment. 6 Unit Multi-Family Building. 1031 Exchange Option. Nearby Stuyvesant Heights. I 4 Vacant Units.I Projected 7% Cap Rate I 2% Co-Broke to Buyers Agent I 2 Occupied Units The strong demand for sales and rentals continues to drive the residen tial market in Bedford Stuyvesant, offering investors the opportunity to acquire an asset with considerable long-term upside as either a long-term rental property or condominium conversion in the coming years. Ralph and Howard Avenue cross streets. Rent Stabilized Building. Left and Right Unit Layouts. First floor ( 2 apartments) – 2 bedroom | 1 Bath Second floor -( 2 apartments) 2 Bedroom | 1 Bath Third Floor- ( 2 apartments) 2 Bedroom | 1 Bath 140k+ Annual rent roll based on NYC market allowances. Projected $2527.00 for each 2 bedroom. 12k Gross monthly projected income. As per NYC allowances. Currently 2 Occupied Units.(1L/2R) Building Sold “As is”. Total 4500 Square Feet. 6 Families of this kind rarely find their way to the market in today's competitive climate. Immediate cash flow from beginning of investment. The full English basement is currently underutilized and can be converted into common space for the tenants in the form of laundry, storage, bike storage and even fitness amenities. The potential to duplex the basement and the first floor must be consulted with an architect. The owner's expenses only include taxes, insurance, gas, and water creating an attractive 7% cap rate. Protect yourself against inflation and park your money in this multifamily investment. Motivated Seller. Easy Access. Seller can provide sellers concession for closing costs. Built 1899 Building Size: 22×45 Square footage: 4500 Lot Size: 24.5×100 Zoning: R6B Taxes: $6436.00 500SF of Development Rights Contact listing agent to view. 2% Co-broke to Buyer's agent.

Facts and Features