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Carey Yang

careyyangexitny@gmail.com +1(917) 882-8031

$ 1,849,999

Est. payment | -/mo

12 Baths

8,493 SqFt

Save

$ 1,849,999

Est. payment | -/mo

Save

12 Baths

8,493 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,493 sqft

Price per Sqft $217

MLS Listing ID 499360

Full Baths 8

Half Baths 8

Year Built 1931

Annual Tax Amount $64,651

Property Sub-Type Multi-Family

Property Description

Turnkey multifamily investment - 281 23rd Street is a beautifully-maintained masonry pre-war building spanning approximately 8,492 square feet above-grade. The building hosts 12 apartments, eight of which are configured as 2 BR, while the remaining four are 1 BR. The building is being offered for sale for the first time in almost 40 years. Current ownership has taken long-term care of the property, offering new ownership a turn-key cash flowing asset. Core asset with stable cash flow and future upside - All apartments are rent-stabilized and leased. The asset currently generates over $270,000 gross annually. Average AGI/NSF is $34.61, equating to an average monthly rent of $1837 per apartment, this is approximately 75% of market rents of comparable rentals in area. This allows future investors to take advantage of immediate rental income on day one with virtually no work, while retaining substantial long-term upside as units are brought to market rate over time. Ideal location with multiple amenities - R subway station at the 25th Street station & the Prospect Avenue station (D, N, R, W trains). There are several markets, banks and convenience stores along with dozens of cafes and restaurants in the immediate area along 5th Avenue retail corridor. The location provides straight forward commutes to Manhattan and Brooklyn via these lines. Ideally positioned for quick access to the major highway interchange of I-278 (Gowanus Expressway) and NY-27 (Prospect Expressway).

Location

State NY

County Kings (brooklyn)

Area Greenwood Heights

Zoning R6B

Rooms

Basement Cellar, Semi-Finished, Separate Entrance

Interior

Hot Water Gas

Heating Gas

Flooring Carpeting, Ceramic, Hardwood, Linoleum

Heat Source Gas

Exterior

Exterior Feature Brick

Amenities Available Storage rooms

Roof Type Asphalt/Tar,Flat

Handicap Access Unknown

Building

Story 4

Foundation Poured Concrete

Others

Energy Description Gas

Financing 1031 Exchange,Bank Mortgage,Cash

Listed by Revived Residential

Nearby Locations

GET MORE INFORMATION

Carey Yang

Broker-Owner Lic# 10491202683

careyyangexitny@gmail.com

+1(917) 882-8031

6203 18th Ave, Brooklyn, NY, 11204

281 23rd ST Brooklyn, NY 11215

Carey Yang

Key Details

Location

Rooms

Interior

Exterior

Building

Others

281 23rd ST