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Thomas "Chopper" Russo

chopper@chopperrussoteam.com +1(201) 240-5200

$ 1,250,000

Est. payment | -/mo

1,999 Sqft Lot

Save

$ 1,250,000

Est. payment | -/mo

Save

1,999 Sqft Lot

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Subdivision Sunset Park

MLS Listing ID 1027884

Rental Info No

Year Built 1931

Annual Tax Amount $14,863

Lot Size 1,999 Sqft

Acres 0.0459

Property Sub-Type Multi Family

Source onekey2

Property Description

Presenting an exceptional investment opportunity, a distinguished six-family residence nestled in the vibrant Sunset Park neighborhood of Brooklyn. This rent-stabilized property offers a compelling investment opportunity, boasting a current capitalization rate of 5.7%, with projections indicating potential growth to 6.5% or higher. Constructed in 1931, this multi-family home encompasses approximately 4,551 square feet of living space on a 2,000 square foot lot. Its prime location places it amidst a plethora of retail stores, diverse shops, and a variety of restaurants along 4th, 5th, and 8th Avenues, providing residents with unparalleled convenience. The property is strategically situated just minutes from multiple [R & N] subway stations and bus stops, facilitating an effortless commute to Manhattan and other key areas. Additionally, the zoning districts R7A and C2-4, with a Floor Area Ratio (FAR) of 4, offer significant commercial conversion possibilities, presenting avenues for value addition and diversification. Sunset Park is renowned for its rich cultural tapestry and dynamic community atmosphere. The neighborhood's namesake park provides ample green space and recreational facilities, contributing to a lively atmosphere and strong sense of community. This property not only promises stable income through its current rent-stabilized units but also offers substantial upside potential through strategic enhancements and leveraging its prime location. Seize this rare opportunity to invest in a property that combines immediate financial benefits with promising future prospects in one of Brooklyn's most sought-after neighborhoods.

Location

State NY

County Kings (brooklyn)

Rooms

Basement Finished, Full

Interior

Heating Other

Cooling Wall/Window Unit(s)

Fireplace No

Exterior

Parking Features None

Utilities Available See Remarks

Building

Foundation Other

Sewer Other

Water Other

Structure Type Other

Schools

High Schools Contact Agent

School District Contact Agent

Others

Special Listing Condition None

OneKey MLS/ Hudson Gateway (HGAR)/ Long Island MLS (MLSLI)/ Mid Hudson MLS

Listed by RE/MAX Edge • Zaiyou Zhu

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Thomas "Chopper" Russo

Broker Associate

+1(201) 240-5200

5411 4th AVE Brooklyn, NY 11220

Thomas "Chopper" Russo

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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5411 4th AVE