281 23RD Street, Brooklyn, NY 11215
281 23RD Street, Brooklyn, NY 11215
281 23RD Street, Brooklyn, NY 11215
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Randy Reis

Randy Reis

+1(917) 435-4870
Listing Courtesy of Revived Residential
$1,950,000
Est. payment /mo
20 Beds
9 Baths
8,493 SqFt
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UPDATED:

Key Details

Property Type Multi Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,493 sqft

Price per Sqft $229

Subdivision Greenwood Heights

MLS Listing ID RLS20075657

Bedrooms 20

Full Baths 16

Half Baths 8

HOA Y/N No

Year Built 1931

Annual Tax Amount $67,320

Property Sub-Type Multi Family

Property Description

Turnkey multifamily investment - 281 23rd Street is a beautifully-maintained masonry pre-war building spanning approximately 8,492 square feet above-grade. The building hosts 12 apartments, eight of which are configured as 2 BR, while the remaining four are 1 BR. The building is being offered for sale for the first time in almost 40 years. Current ownership has taken long-term care of the property, offering new ownership a turn-key cash flowing asset. Core asset with consistent cash flow and future upside - All apartments are rent-stabilized and leased. The asset currently generates over $270,000 gross annually. Average AGI/NSF is $34.61, equating to an average monthly rent of $1837 per apartment, this is approximately 75% of market rents of comparable rentals in area. This allows future investors to take advantage of immediate rental income on day one with virtually no work, while retaining substantial long-term upside as units are brought to market rate over time. Ideal location with multiple amenities - R subway station at the 25th Street station & the Prospect Avenue station (D, N, R, W trains). There are several markets, banks and convenience stores along with dozens of cafes and restaurants in the immediate area along 5th Avenue retail corridor. The location provides direct commutes to Manhattan and Brooklyn via these lines. Ideally positioned for quick access to the major highway interchange of I-278 (Gowanus Expressway) and NY-27 (Prospect Expressway).

Location

State NY

County Kings

Rooms

Basement Other

Interior

Interior Features Smoke Free

Cooling Window Unit(s)

Fireplace No

Laundry In Unit

Exterior

View Y/N No

View Other

Porch None

Private Pool No

Building

Dwelling Type Townhouse

Story 1

New Construction No

Others

Pets Allowed Pets Allowed

Tax ID 00899-0049

Ownership None

Monthly Total Fees $5, 610

Special Listing Condition Standard

Pets Allowed Building Yes, No

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NEARBY SCHOOL & BUSINESS

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Randy Reis

Randy Reis

+1(917) 435-4870

Team Leader | License ID: 40RE1176716

Team Leader License ID: 40RE1176716

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