off market brooklyn property

Listing Id: 44

off market




VACANT THREE STORY SINGLE FAMILY BUILDING FOR SALE
EXCELLENT USER/INVESTMENT OPPORTUNITY

BROOKLYN, NEW YORK (DITMAS PARK)



Lot Size: 40' x 100'
Building Size:
Basement: ---24' x 42' irr = 856
First Floor: -- 24' x 42' irr = 856
Second Floor:24' x 42' irr = 856
Third Floor:---24' x 42' irr = 856
Stories: Three Plus Full Basement
Gross Square Feet: 2,568 appx
Zoning: (FAR) R3X (0.05)
Buildable Sq. Ft: 2,000
Air Rights: No Air Rights
Taxes: (22/23) $8,955.88
Description:

A beautiful 24’ wide seven bedroom three story single family building in Prime Ditmas Park. The property has a wide front porch along with a driveway and full basement, which has 7’ ceilings and windows. The building is in need of renovation which makes it a prime user opportunity. An investor can also renovate the building and rent it to a family.

The first floor has a front living room, which has sliding doors and can be converted into a home office or dining room. To the back is the Tudor style dining room and full kitchen along with the half bathroom. The kitchen has a side entrance which gives access to the drive way and back yard.

The second floor has a nice wide stairs, with stain glass windows in the hallway. This floor has four bedrooms with good size closets. There is also a full bathroom which has stain glass windows. All the bedrooms have nice wood floors.

The third floor has three bedrooms with good size closets nice wood floors which can be preserved.



Net Operating Income: $103,094.12 CAP RATE: 5.6%

ASKING PRICE: $1,850,000


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TWO STORY APARTMENT BUILDING FOR SALE
EXCELLENT USER/INVESTMENT OPPORTUNITY
OPPORTUNITY ZONE

BROOKLYN, NEW YORK

Location:
nearr to Winthrop Streets
Lot Size:
27’ x 100’
Building Size:

Basement:
20’ x 80’ = 1,600 sq. ft.
Ground Floor:
20’ x 80’ = 1,600 sq. ft.
2nd Floor:
20’ x 80’ = 1,600 sq. ft.



Stories:
Two (2) Plus Basement
Gross Square Feet:
3,200 (Approximately) Above Grade
Zoning: (FAR)
Total Buildable Sq. Ft:
Total Available Air Rights:
R6 (2.43) )
6,561
3,361
Assessment:
Real Estate Taxes:
$78,332 (22/23)
$9,609.00


Description:
A 20’ wide 4-unit two-story apartment building. The property has two units per floor. They are all two-bedroom apartments they are located to the front and back of the building. All the units have full kitchen & full bathroom, nice wood floors. They get great sunlight, the ceilings are ten feet, and the units are individually metered for cooking gas and electric. All the meters are in the basement.

The property is located in an area that has lots of foot traffic and close to the 2, 3, 4 trains on Eastern Parkway and has great retail stores, restaurants and parks in the neighborhood.

The property is a prime investment opportunity because all the units are free market and not subject to any rent regulations. An investor can renovate them and increase the rents. They can also give each tenant their own boiler and water heater. The property also makes a great user opportunity; a user can occupy the ground floor and convert it into a three-bedroom floor-through apartment. They rent out the second floor for income. They can also duplex the ground floor with the basement to create a duplex garden apartment.







Note: Apt 1F is a program tenant. 1R we are in court with Marshall date coming soon. 2F in court started case 14 months ago. Basement waiting going back to court.
Revenue:


Unit
Description
Unit Type
Revenue
LXP

Ground Floor:
Basement
1F
1R
1 Bedroom Apt
2 Bedroom Apt
2 Bedroom Apt
Free Market
Free Market
Free Market
$1,500
$1,850
$1,850 proj
In court

In court

Second Floor:

Monthly Inc:
Annual Inc:

2F
2R



2 Bedroom Apt
2 Bedroom Apt



Free Market
Free Market



$1,850 proj
$1,600
$8,650
$103,800

In court





Expenses:

Real Estate Taxes:
$9,609.00
Water & Sewer:
$2,200.00
Insurance:
$2,350.00
Heat (Gas):
$2,600.00
Electric: (common areas)
$1,300.00
Repairs & Maintenance:
Total Annual Expenses
$1,500.00
$19,559.00






Projected Net Operating Income: $84,241 Cap Rate: 8.4%

ASKING PRICE: $1,000,000



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