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488 Central Avenue, Brooklyn (Bushwick), NY, 11221 | $1,699,995
Please inquire direct with the listing agent (Mark Martov- Corcoran Group) for more information on a 5. 75% mortgage with only 10% down exclusively for this property.
Welcome to 488 Central Avenue, a contemporary multi-family property in the highly desirable Bushwick neighborhood of Brooklyn. Constructed in 2003, this three-story building features a flexible layout with three residential units and the added convenience of deeded parking. The property boasts over 3, 015 square feet of living space, plus an additional 1, 004 square feet of finished windowed basement space, complete with a large recreation area, ample storage, and a spacious great room ideal for entertaining.
The highlight of this property is the first-floor owner's duplex, which includes a private backyard and deeded parking. This generous unit offers three bedrooms, an office, and three full bathrooms, providing both comfort and functionality. The ground floor features a spacious bedroom, a well-designed kitchen, and an open living and dining area. The upper level continues with additional bedrooms and bathrooms, ensuring ample privacy and convenience.
The second unit spans the parlor and second floors and includes a primary bedroom with access to a private balcony, adding a charming outdoor retreat. The third-floor unit features a well-proportioned living and dining area, a fully equipped kitchen, three bedrooms, and a full bathroom-making it an excellent choice for families or as additional rental income.
Each unit is meticulously designed to maximize space, making 488 Central Avenue a prime opportunity for both homeowners and investors. Situated in a highly sought neighborhood, you'll enjoy easy access to local transit options, including the J, M, and L subway lines, and be immersed in Bushwick's vibrant arts, dining, and cultural scene. This property offers a strong investment opportunity for both investors and homeowners, allowing them to offset the mortgage through multiple rental income streams.
Features
- Town: Brooklyn
- Rooms: 14
- Laundry: Other
- Year Built: 2003
- Cooling: Unknown Type
- Building Access : Walk-up
- Service Level: Voice Intercom
- Built Size: 21'x47'
- OLR#: RPLU33423184355
- Days on Market: 59 days
- Website: https://www.raveis.com
/prop/RPLU33423184355/488centralavenue_brooklyn_ny?source=qrflyer
All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.Listing courtesy of Corcoran Group
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888.699.8876
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Sarah AlvarezVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1880936
347.223.0992
Sarah.Alvarez@Raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
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488 Central Avenue, Brooklyn (Bushwick), NY, 11221
$1,699,995
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Sarah Alvarez
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $1,359,996 | $1,359,996 | $1,359,996 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.250% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.821% | 6.396% | 5.990% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $7,722 | $8,374 | $11,294 |
| Total Monthly Payment | $7,847 | $8,499 | $11,419 |
* 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.
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