Property Listing No Longer Available for Sale

479 4th Avenue, Brooklyn, NY

Multi-family for Sale - $5,750,000

Property Info

CIMLS #576557
Location479 4th Avenue
Brooklyn NY 11215
Last UpdatedJanuary 25th, 2018
DemographicsView data

Property Description

This entire building recently went through a gut renovation and now contains 8 rental units which are all free market apartments. Comprised of 6 convertible 2 BR / 1BA units, a 3BR/2BA penthouse with 2 balconies and a ground floor duplex unit with 3BR, 3 full BA, a backyard and a full finished basement. Located in great section of Park Slope with tons of upside potential with rents increasing and population growth in the area. All units are on their own meters with independent heating systems per unit so no fuel or heating costs for Landlord. All units have upgraded finishings and a washer and dryer in the units. This is a prime opportunity to purchase in a hot neighborhood and realize a lot of upside in the rental market.


Annual Income Per Annum

Residential: $319,800

Annual Expenses Per Annum

RE Taxes: $11,022

Maintenance: $4,000

Water/Sewer: $8,000

Insurance: $8,000

Gross Expenses: $31,022

Gross Income: $319,800

Net Operating Income: $288,778

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