BIG 3 family in Bushwick, close to subway, with great income
Great opportunity for both investors/owner- occupied alike: Located in the vibrant neighborhood of Bushwick, bordering Bedford-Stuyvesant, within a short walk to the Gates Subway station, and the Saratoga Park. The property is surrounded by numerous bars, restaurants, cafes, art stores, gyms, a couple of supermarkets, pharmacies and many other amenities including a post office, and The Organic Fresh Market which recently opened juat around the corner. This BIG 18.75/50, almost 3,750 Sq Ft building, is a 3 story, legal 3 family house, with an additional finished walk-in basement, and a nice backyard. Each of the top 2 floors contains a 3 bedroom/1.5 bathroom apartment. The first floor contains a 2 bedroom/1.5 bathroom garden apartment with private access to the backyard which has a beautiful deck. With minimal modification, combining the first floor with the walk-in basement can create an attractive 4 bedroom/2.5 bathroom duplex apartment, great for owner occupant or increasing the income. This turn of a century Townhouse retains its classic charm although been updated and in excellent shape. The building has high ceilings with Crown molding, abundant natural light throughout and exposed brick. Each of the 3 units has 1.5 bathrooms, washer/dryer hookup, quartz countertops, solid wood white Shaker cabinetry, hardwood floors, and stainless-steel appliances including a dishwasher & over-the-stove microwave. Each unit also has its own separate gas heat & hot water, and electric & gas meters. The walk-in basement is fully finished, and has both an interior & street access, and a second access to the backyard. The building carries low maintenance cost, and is very well maintained, including recently replaced hot water heater & Bosch dishwashers, keeping the wonderful long-term tenants happy, with very few turnovers. The current income from the 3 units is $9,500 a month, but easily can go up to $11,000-12,000, bringing the CAP rate from 5.79% up to 6.75%. The building can be delivered occupied or partially vacant.
Lot size: 18.75/100
Building size: 18.75/50
Legal 3 family building
Asking: $1,999,000
