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$890,000
Est. payment /mo
6 Beds
6 Baths
4,778 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,778 sqft
Price per Sqft $186
MLS Listing ID 495586
Bedrooms 6
Full Baths 6
Year Built 1910
Annual Tax Amount $11,453
Property Sub-Type Multi-Family
Property Description
Geo Real Estate Group has been exclusively retained to market 184 Schaefer St. Primely located in Bushwick within a short distance to the L train as well as multiple bus routes; this subject property is a fully leased rent stabilized building.
The property is currently operating at a 7% cap rate with a net adjusted annual rent of $100,297. Annual expenses for current ownership are approximately $37,600 annually.
A value add potential for long term new ownership exists via strategic vacancies and capital improvement. The building has an additional 1,100 sq. ft. of residual floor to area ratio presents a unique opportunity for investors looking to enter in a highly desirable submarket with a well performing asset.
The property is currently operating at a 7% cap rate with a net adjusted annual rent of $100,297. Annual expenses for current ownership are approximately $37,600 annually.
A value add potential for long term new ownership exists via strategic vacancies and capital improvement. The building has an additional 1,100 sq. ft. of residual floor to area ratio presents a unique opportunity for investors looking to enter in a highly desirable submarket with a well performing asset.
Location
State NY
County Kings (brooklyn)
Area Bushwick
Zoning R6
Rooms
Basement Full, Unfinished
Interior
Hot Water Gas
Heating Gas
Flooring Hardwood, Laminate
Heat Source Gas
Exterior
Exterior Feature Brick
Amenities Available NONE
Roof Type Flat
Handicap Access Unknown
Building
Story 3
Foundation Poured Concrete
Others
Energy Description Gas
Financing 1031 Exchange,Bank Mortgage,Cash,Owner
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Listed by GEO Real Estate Group Inc
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