1740 4, Brooklyn

$1,900,000

11 Beds
6 Baths
6,450 Sqft
0 Acres
0 Garages

A rare opportunity to own a 6-family property in the heart of Gravesend. This large, 3-story, six-unit, all brick, pre-war, attached, multi-family building was erected in 1927 sitting on a 2,500 square foot lot with 6,450 total square feet in the interior. The building size is 25’ x 86’. There are two units per floor and five of those units are well-lit, 817 square-foot, two bedroom apartments. The ground floor front unit is a 639 square foot 1-bedroom apartment with plenty of windows letting in an abundance of natural light. Currently, five units are vacant and the sixth unit will be delivered vacant.

This building has a full basement with a separate, locked, storage-area and plenty of space to create a coin-operated laundry room. The roof can be easily upgraded to provide an outdoor deck if you so choose and several apartments have been partially renovated.

The roof (2006), boiler (2012), building’s electric wiring (2006), and windows (2003) have been replaced and are in great condition. The brick facade was repointed. One apartment is rent destabilized, another is very close to the requirement, and four are rent stabilized. But according to the details which we will be happy to provide, the new projected rents are market competitive and offer a projected cap rate of 5% which is a rare gem in this area. The New York State Division of Housing and Community Renewal has all the guidelines as to how your own improvements can enhance your rental income.

Located three short blocks from the Avenue P, F-train station, two short blocks from Ocean Parkway, and close to shopping and houses of worship, this location super convenient to all necessities and is an excellent opportunity for the right person.
Call us for our projections and analysis based on actual 2018 expenses and 2019 estimations. This is an excellent opportunity for investment whether your goal is maintaining this as a rental property or converting into a boutique condominium.

Essential Information
MLS® #427221
Price$1,900,000
Bedrooms11
Bathrooms6.00
Full Baths6
Square Footage6,450
Year Built1927
TypeMulti-Family
Sub-TypeMulti-Family
StatusActive
Community Information
Address1740 4
AreaHomecrest
CityBrooklyn
CountyKings (Brooklyn)
StateNew York
Zip Code11223
Amenities
FeaturesRefrigerator, Stove
Amenities

Door – Intercom, Storage rooms

Interior
InteriorCeramic, Hardwood
AppliancesRefrigerator, Stove
HeatingHot Water
Has BasementYes
# of Stories3
Basement

Full, Cellar, Separate Entrance

Exterior
ExteriorBrick
RoofRubber
ConstructionBrick
FoundationPoured Concrete
Additional Information
Date ListedFebruary 12th, 2019
Days on Market67
ZoningR5
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© 2019 Brooklyn New York MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Casandra Properties Inc. Data last updated: April 21st, 2019 at 8:00am EDT

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