$20,000 PRICE IMPROVEMENT! EXCELLENT INVESTMENT OPPORTUNITY! ~7% Cap Rate on Projected Rents and a 5% Cap Rate on Actual Rents. The current owner gut renovated this property from top to bottom, making this a relatively turn-key investment opportunity for an owner occupant or local investor. The property is a legal two-family, but could easily be converted to a three-family home. Unit 1 (1st Floor) has a kitchen, living room, dining room, 2 bedrooms, & 1 full bathroom. Unit 2 (2nd & 3rd Floors) is a duplex featuring a kitchen, living room, 2 bedrooms, 1 full bathroom, & a private deck on the first floor of the unit. On the second floor of Unit 2 is kitchenette (no gas hookup), living room, dining room, 3 bedrooms, 1 full bathroom, & 2 dens. Both units are currently tenant-occupied and the current rents are below-market. The tenants pay their own heat, gas, & electric and the Owner is responsible for water/sewer, insurance, and the real estate taxes. The full unfinished basement is currently used for storage, but does have laundry hook-ups. The rear yard is perfect for entertaining. The location can't be beat - walking distance to Berry Lane Park and the Garfield Avenue Light Rail Station for seamless transportation to NYC. Schedule a showing today!
This property is not currently displayed as for sale or rent on Zillow. This may be different from what's on other websites or public sources.
