UPDATED:
Key Details
Property Type Multi Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,000 sqft
Price per Sqft $483
Subdivision East New York
MLS Listing ID RLS20104128
Bedrooms 8
Full Baths 3
HOA Y/N No
Year Built 1901
Annual Tax Amount $636
Property Sub-Type Multi Family
Property Description
A unique opportunity to live, earn, and invest in a beautifully maintained legal two-family brick home with an established furnished rental operation.
Offering approximately 3,000 square feet of living space, the property combines a spacious owner-occupied garden level with income-producing upper floors configured with multiple private bedrooms. Since 2018, the current owner has successfully operated the furnished rental business with approximately $115K in gross annual income and a strong history of long-term professional tenants. The established rental performance provides immediate income potential, with additional upside for the next owner. Detailed financials, including historical and projected income, are available upon request.
The property has also benefited from substantial capital improvements, including a new roof with solar panels (2021), updated plumbing and electrical systems, a new boiler (2024), and new central heating and air conditioning (2025). The 12,000-watt solar panel system is designed to significantly offset electricity usage, while a solar tax abatement further contributes to remarkably low annual property taxes.
Additional Highlights
Legal two-family brick home Approx. 3,000 SF of living space Owner-occupied garden level with additional income potential Established furnished rental operation with approx. $115K gross annual income Private backyard Extensive recent capital improvements 12,000-watt solar panel system designed to significantly offset electricity usage Solar tax abatement contributing to low annual property taxes Ideal for investors or owner-occupants seeking to offset carrying costs with rental income Conveniently located near multiple transit options, including the A/C trains at Shepherd Avenue and Euclid Avenue and the 3 train at New Lots Avenue, providing easy access throughout Brooklyn and into Manhattan.
Whether you're seeking a turnkey income-producing investment or a home where rental income can help offset the cost of ownership, 354 Montauk Avenue offers a compelling combination of flexibility, established income, and long-term value.
Location
State NY
County Kings
Rooms
Basement Other
Interior
Interior Features Smoke Free
Cooling Electric, Other
Fireplace No
Appliance Washer Dryer Allowed
Laundry Washer Hookup, In Unit
Exterior
Exterior Feature Private Outdoor Space Over 60 Sqft
Pool Building None
View Y/N No
View Other
Porch None
Private Pool Yes
Building
Dwelling Type Townhouse
Story 2
New Construction No
Others
Pets Allowed Pets Allowed
Tax ID 04071-0039
Ownership None
Monthly Total Fees $53
Special Listing Condition Standard
Pets Allowed Building Yes, No
NEARBY SCHOOL & BUSINESS
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