Recently Updated 3 Unit Multi-Family Building. I 3 Free Market Units.I Projected 8% Cap Rate* I 3% Co-Broke to Buyers AgentI The strong demand for sales and rentals continues to drive the residential market in East Flatbush, 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. New York Avenue and 34th Street cross streets. First floor – 3 bedroom | 1 Bath + Garden Second floor – 4 Bedroom | 1 Bath Third Floor- 4 Bedroom | 1 Bath 100k+ Annual rent roll based on NYC market rate rents. $3426.00 for each 4 bedroom. $3188.00 for each 3 bedroom. 10k Gross monthly projected income. As per NYC allowances. Building to be delivered vacant. 2 Vacant units currently. 3 Families of this kind rarely find their way to the market in today’s competitive climate. Immediate cash flow from beginning of investment. Upgrades include brand new roof and updated electric. The full basement is currently underutilized and can 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 8% cap rate. Protect yourself against inflation and park your money in this multifamily investment. Motivated Seller. Easy Access. Seller will provide 6% sellers concession for closing costs. Built 1910 Building Size: 20×50 Square footage: 3500 Lot Size: 20×100 Zoning: R5 Taxes: $6782.00 Contact listing agent to view. 3% Co-broke to Buyer’s agent.
