Property Listing No Longer Available for Sale

1205 New York Avenue, Brooklyn, NY

Multi-family for Sale - $2,300,000 - 6,480 Sq. Ft. on 0.04 acres


Property Info

CIMLS#859327
Location
  1205 New York Avenue
  Brooklyn NY 11210
UpdatedNovember 29th, 2017
TypeMulti-family
Price$2,300,000
Building6,480 Sq. Ft.
Land0.04 acres

Property Description

100% OCCUPIED EIGHT FAMILY

Price: $2,3000,000

No. Units: 8

Building Size: 6,500 SF

Property Type: Multifamily

Property Sub-type: Mid/High-Rise

Property Use Type: Investment

Cap Rate: 5.04%

Occupancy: 100%

Lot Size: 1,800 SF

APN / Parcel ID: 4933/7501

Description

City Express Realty is pleased to present this remarkable investment opportunity, 8 family building, erected in 2009 with a total of 8 residential two bedrooms units, 2 parking spots and 8 storage rooms. 100% occupancy. Each apartment features HVAC system, granite counter tops, Jacuzzi tub. Gross Annual Income (GAI) $163,106.04, total annual expenses $47,291.99, Net Operating Income (NOI) $115,814.05. The property is located at the North-East corner of New York Ave and Clarendon Road in booming Flatbush area of Brooklyn. This is a perfect choice for a savvy investor. The sale is a subject to the assumable $898,00 mortgage with 40 month term, monthly payment of $6,416 including principal + interest + escrow(taxes + insurance). Seller will hold 2nd position private mortgage if needed, interest rate is a subject to negotiation. New Reduced Price $2,300,000 CAP rate 5.04%


Financials

GAI $160,886, total annual expenses $ 20,200, NOI $140,686, CAP RATE 5.63%.



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