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$1,299,999
Est. payment /mo
1,999 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Sunset Park
MLS Listing ID 1027884
Rental Info No
Year Built 1931
Annual Tax Amount $14,863
Lot Size 1,999 Sqft
Acres 0.0459
Property Sub-Type Multi Family
Source onekey2
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.
Location
State NY
County Kings (brooklyn)
Rooms
Basement Finished, Full
Interior
Heating Other
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features None
Utilities Available See Remarks
Building
Foundation Other
Sewer Other
Water Other
Structure Type Other
Schools
High Schools Contact Agent
School District Contact Agent
Others
Special Listing Condition None
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Listed by RE/MAX Edge • Zaiyou Zhu
Nearby School & Business
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