Investors and developers, take note! Cash-flowing asset "Turn Key Rent Stabilized Building"
A fully occupied 6-unit building in the heart of Flatbush Brooklyn is up for sale in a rapidly gentrifying neighborhood. This property is a reliable source of cash flow, generating $89, 368 in Gross Income annually with occupants who treat the building as their own. Each unit offers 2 bedrooms, 1 bathroom, and around 700 sq. ft. (total of 12 bedrooms).
Besides its current cash flow, there's tremendous potential for growth.
Zoned R7-1, C1-3, with 6, 398 unused FAR, there's room for development or opportunity to sell air rights down the line. Conveniently located at Linden Blvd/Nostrand Ave, by Prospect Park, various train lines, hospitals, Brooklyn Museum, and shopping centers, this property is centrally positioned in Brooklyn's vibrant scene.
If you're looking for an income-generating investment with potential, this is it! It is right by Rt. 27, and minutes from the BQE.
Don't miss out on this prime turnkey investment or portfolio addition!
- The roof and building are in overall great condition
- Storage space available in the basement
- The boiler is 7 years old
- New electric sub-panels (Apt 1R & 1L 50amps)
- Lot Size: 26ft x 126. 8ft (3, 298)
- Building Class: C2
- Year Built: 1931
- Zoning: R7-1, C1-3
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
Our Insurance Division:
$1,148,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $918,400 | $918,400 | $918,400 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.000% | 5.875% | 5.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.963% | 5.983% | 5.805% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $4,930 | $5,433 | $7,565 |
Total Monthly Payment | $5,055 | $5,558 | $7,690 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.