Description

Excellent Investment Opportunity Prime location with strong appreciation potential as the nearby casino development moves forward. All units rented at market rates. Property Details Lot Size: 25’ × 100’ Building Size: 25’ × 51’ (Approx. 5,294 SF) Built in 2018 Zoning: R6 Unit Mix 6 Two-Bedroom / One-Bath units 2 One-Bedroom / One-Bath units A neighboring building with the same layout has already been converted into 8 individual condominium units, generating an estimated $3 million in net profit. Separate Utilities 8 Water Meters 8 Gas Meters 9 Electric Meters 8 Heating Systems 8 Hot Water Heaters Investment Highlights Fully occupied with excellent tenants Rent receipts available (no written leases) Potential for future rent increases Annual Gross Income: Approx. $210,000 Estimated Cap Rate: 5% – 6% Outstanding Location Just a 2-block walk to the bustling Roosevelt Avenue / 7 Train station. Close to supermarkets, restaurants, Citi Field, and numerous neighborhood amenities.

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Property information

Property type

Commercial Sale

Sub-type

Multi Family

Year built

2018

Living area

5,464 Sq Ft

Lot size

2,500 Sq Ft

Annual taxes

$44,424

Price / Sq Ft

$527

Days on market

80

Parcel number

01785-0020

Features

Cooling

Electric

Heating

Natural Gas

Parking

No Garage

Construction

Brick

Basement

Partial

Sewer / Water

Public Sewer · Public