Great investment opportunity -- potential 6%+ Cap Rate. Can be delivered vacant! Welcome to 430 McDonald Avenue: A renovated, semi-detached, four-unit building (two 2-families*) on one of Kensington's most popular avenues. With an existing rent roll and relatively low operating expenses, this opportunity is perfect for stable income and future upside in an appreciating area close to transportation and Prospect Park. It features a total of eight bedrooms and six bathrooms over 2,320 SF. *Additionally, the Certificate of Occupancy specifies this as two 2-family buildings, meaning that short-term rental use (AirBnB, VRBO, etc.) would be allowed per the NYC Multiple Dwelling Law, which would up the gross rent from $102k to over $175k, per local short-term rental management companies.
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.
