RENOVATED 3 FAMILY HOUSE for sale in Bed Stuy! Fronting Saratoga Park, this 3 family house was built in 2005 and consists of a 3 bedroom 1.5 bath, over a 3 bedroom 1.5 bath, over a duplex 2 bedroom (flex 3 bedroom) 1.5 bath with Garden and Finished Basement. Currently rented out for $ 6,550, the house has a cap rate of 4.5% but upgrading the units could bring the cap rate up to 5.7% (ask for set up). Garden duplex with finished basement is rented for $ 2,350 through May 31, 2018. 2 floor-through units above are rented for $ 2,100 each. Unit 2 is leased till October 31, 2017 while unit 3 is month-to-month and can be delivered vacant. These 2 units could easily fetch $ 2,300 each without updates as the rents are below market. Renovations would bring these up to $ 2,500 and the garden duplex up to $ 3,000 or more. Tenants pay own utilities. There is also a legal parking space in the front courtyard with curb cut, which could garner additional rent from a tenant. Basement could also be subdivided to include a laundry room & storage for tenants (there is a 2nd entrance to basement for upper 2 units which could be utilized). Great location, just a 4 minute walk to the Halsey Street J,Z trains and 11 minute walk to the Ralph Ave A,C trains. Half a block from Bed-Stuy Fish Fry.
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.
