A striking Midwood / Flatbush corner building with a distinctive castle-like presence that stands out from every other property on the block. Fully renovated and already producing strong income, with clear paths to significantly increase NOI. Perfect for investors seeking cash flow today and value-add upside tomorrow. Income & Value-Add Potential Current Net Operating Income: $111,000 / year Rent optimization and garage income can increase NOI to $136,000 / year Upgrading the heating system could reduce electrical costs by approximately $1,800/month Projected Stabilized NOI: $157,600 per year At stabilization, this represents significant upside in both cash flow and property value. ?? Flexible Financing (Rare Opportunity) Low Down Payment Structure Take over the existing mortgage and minimize cash needed to close. Existing Mortgage Balance: $1,702,000 Interest Rate: 4.3% interest-only Monthly Payment: $5,800 Buyer Down Payment: $300,000 Seller Financing: $150,000 for 2 years at 10% Larger Down Payment Option Buyer Down Payment: $450,000 Assume the existing mortgage through the LLC structure and potentially save significantly on closing costs. Traditional Purchase Buyer may purchase using their own financing or Property Highlights Legal 2-family pad-split / co-living investment property 15 income-producing rooms (NOT SRO) 8bathrooms + 3 kitchens Fully renovated interiors with modern finishes Two-car garage with additional income potential Located in a high-demand Brooklyn rental market Tenants willing to sign leases with $100/month rent increases
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
