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$1,480,000
Est. payment /mo
18 Beds
6 Baths
UPDATED:
02/23/2025 01:34 PM
Key Details
Property Type Multi Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 488822
Bedrooms 18
Full Baths 6
Annual Tax Amount $14,863
Property Sub-Type Multi-Family
Property Description
Presenting an exceptional investment opportunity, a distinguished six-family residence nestled in the vibrant Sunset Park neighborhood of Brooklyn. This rent-stabilized property offers a compelling investment opportunity, boasting a current capitalization rate of 5.7%, with projections indicating potential growth to 6.5% or higher.
Constructed in 1931, this multi-family home encompasses approximately 4,551 square feet of living space on a 2,000 square foot lot. Its prime location places it amidst a plethora of retail stores, diverse shops, and a variety of restaurants along 4th, 5th, and 8th Avenues, providing residents with unparalleled convenience.
The property is strategically situated just minutes from multiple [R & N] subway stations and bus stops, facilitating an effortless commute to Manhattan and other key areas. Additionally, the zoning districts R7A and C2-4, with a Floor Area Ratio (FAR) of 4, offer significant commercial conversion possibilities, presenting avenues for value addition and diversification.
Sunset Park is renowned for its rich cultural tapestry and dynamic community atmosphere. The neighborhood's namesake park provides ample green space and recreational facilities, contributing to a lively atmosphere and strong sense of community.
This property not only promises stable income through its current rent-stabilized units but also offers substantial upside potential through strategic enhancements and leveraging its prime location.
Seize this rare opportunity to invest in a property that combines immediate financial benefits with promising future prospects in one of Brooklyn's most sought-after neighborhoods.
Constructed in 1931, this multi-family home encompasses approximately 4,551 square feet of living space on a 2,000 square foot lot. Its prime location places it amidst a plethora of retail stores, diverse shops, and a variety of restaurants along 4th, 5th, and 8th Avenues, providing residents with unparalleled convenience.
The property is strategically situated just minutes from multiple [R & N] subway stations and bus stops, facilitating an effortless commute to Manhattan and other key areas. Additionally, the zoning districts R7A and C2-4, with a Floor Area Ratio (FAR) of 4, offer significant commercial conversion possibilities, presenting avenues for value addition and diversification.
Sunset Park is renowned for its rich cultural tapestry and dynamic community atmosphere. The neighborhood's namesake park provides ample green space and recreational facilities, contributing to a lively atmosphere and strong sense of community.
This property not only promises stable income through its current rent-stabilized units but also offers substantial upside potential through strategic enhancements and leveraging its prime location.
Seize this rare opportunity to invest in a property that combines immediate financial benefits with promising future prospects in one of Brooklyn's most sought-after neighborhoods.
Location
State NY
County Kings (brooklyn)
Area Sunset Park
Zoning R7A, C2-4
Rooms
Basement Finished, Full
Interior
Hot Water Other
Heating Other
Flooring Other
Heat Source Other
Exterior
Exterior Feature Other
Amenities Available Storage rooms
Roof Type Other
Handicap Access Unknown
Building
Foundation Other
Others
Energy Description Other
Financing 1031 Exchange,Bank Mortgage,Cash
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Listed by RE/MAX Edge
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Randy Reis
Team Leader | License ID: 40RE1176716
Team Leader License ID: 40RE1176716