EXCELLENT INVESTMENT OPPORTUNITY! Red brick multi family 2 blocks from subway. Approved plans to add a unit in the basement converting to a legal 3-unit. All approvals from DOB in place and hence all criteria/restrictions have been met, can begin construction immediately. The 2 units are currently rented with all payments on time. Total rent potential for 3-units is $85,000 per annum with very low taxes. Cost of construction should be 150K - 200K giving a cap rate of 6.2% - 6.6%.
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.
