Overview
Legal 4 Family + Legal Basement investment Opportunity *% cap Rate INCREDIBLE INVESTMENT OPPORTUNITY!! PLEASE READ BELOW FOR NOI REPORTLegal 4 family with legal 3 bedroom basement for additional incomeExceptional Four-Family Investment Property in East FlatbushDiscover an incredible investment opportunity with this well-maintained four-family property in the heart of East Flatbush, Brooklyn. Perfectly suited for investors looking to generate substantial rental income, this property offers a blend of modern amenities and classic charm in a prime location.Property Features:Four Family Units: This property features four spacious and independent family units, each with its own entrance, ensuring privacy and convenience for tenants.Legal Basement Unit: An additional legally finished basement unit adds a fifth income-generating residence, maximizing rental potential.Outdoor Space: A private backyard provides a perfect space for outdoor activities or relaxation.**Recent Upgrades:New Roof: A recently installed roof ensures long-term durability and reduced maintenance costs.New Boiler: A brand-new boiler enhances energy efficiency and ensures comfortable living conditions for tenants.Prime Location:Convenient Access: Located on a quiet, tree-lined street, yet close to major transportation routes, shopping, dining, and entertainment options.Community Amenities: Proximity to local schools, parks, and community centers adds to the appeal for families and tenants.Investment Highlights:Income Potential: With five fully separate units, this property is ideal for investors seeking robust rental income.Free market rentals: As a free market property, the owner has full control over setting rental rates, allowing for flexible and competitive pricingHigh Demand Area: East Flatbush is a sought-after neighborhood with a strong rental market, ensuring high occupancy rates and rental demand.INVESTMENT OPPORTUNITY ! 8 % CAP RATE , BROWNSVILLE , FREE MARKET property in East Flatbush/BROWNSVILLE SECTION is a great investment... offering versatility, comfort, and an excellent location. It represents a prime investment opportunity with significant income potential. Don’t miss out on this chance to enhance your real estate portfolio. Contact us today to schedule a viewing!PROPERTY DETAILS: TAXES $9457• Multi-Family Property• Two-story walk-up• 5 Units• Lot Size: 30 × 100ft• Brand new boiler and plumbing throughout buildingExpenses:TAXES- $10, 887INSURANCE-$5, 000WATER-$3000GAS-$3000 (HEAT & HOT WATER )ELECTRIC-$1500• Approximately $23, 387CURRENT RENT ROLL:• Apt 1F: $2, 040• Apt 1R: $2, 417• Apt 2F: $3, 385• Apt 2R: $2, 387Leases expire march 2026 current up to date rent roll is $122, 748 annual ( without basement included• Basement: $2, 500 performa currently vacant• Annual gross Rent Roll: $122, 748 NET OPERATING INCOME AFTER EXPENSE $99, 361