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 | |
Updated | November 29th, 2017 |
Type | Multi-family |
Price | $2,300,000 |
Building | 6,480 Sq. Ft. |
Land | 0.04 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%.