Value-Add Opportunity! 12-unit apartment building with (3)-1 bedroom, (6)-2 bedroom and (3)-3 bedroom apartments. All brick, large building 46 feet wide by 76 feet deep (combined), 3 floors plus full basements, 2 parking spaces and high ceilings. Building is 10,488 sf without basements. 2 gas boilers, 4 gas hot water heaters, 14 gas meters/bays and 14 electric meters. Existing Income $67,560 yearly. Projected Income $176,316 yearly. Expenses are approximately $67,034 yearly. No leases, 4 vacant apartments, 3 owner occupied apartments. Real Estate Taxes $35,834 yearly ($17,917 each). Landlord pays for heat, hot water, common space electric/heat and cold water/sewer. Tenants pay for cooking gas and electric. Built 1924. Lot size 60 x 96.67 (5,800.20 sf), R5 zoning. This sale includes (2) 6-unit apartment buildings that are semi-attached to each other, same owner, separate deeds, separate lots. Income Producer! Development Opportunity! Great candidate for a Condo development project. Speak with your architect regarding what can be built. Train (D-line) at Bay Parkway Station, bus and Belt Parkway nearby. Both buildings are Rent Stabilized. The following units will be delivered vacant: Building #36: 1F, 2F, 3F, 3R and Building #38: 2F, 3F, 3R. Buy as a package or separate. See MLS # 106992168 & 10699201.
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