Presenting an exceptional investment opportunity, a distinguished six-family residence nestled in the vibrant Sunset Park neighborhood of Brooklyn. This rent-stabilized property offers a compelling investment opportunity, boasting a current capitalization rate of 5.7%, with projections indicating potential growth to 6.5% or higher.Constructed in 1931, this multi-family home encompasses approximately 4,551 square feet of living space on a 2,000 square foot lot. Its prime location places it amidst a plethora of retail stores, diverse shops, and a variety of restaurants along 4th, 5th, and 8th Avenues, providing residents with unparalleled convenience.The property is strategically situated just minutes from multiple [R & N] subway stations and bus stops, facilitating an effortless commute to Manhattan and other key areas. Additionally, the zoning districts R7A and C2-4, with a Floor Area Ratio (FAR) of 4, offer significant commercial conversion possibilities, presenting avenues for value addition and diversification.Sunset Park is renowned for its rich cultural tapestry and dynamic community atmosphere. The neighborhood's namesake park provides ample green space and recreational facilities, contributing to a lively atmosphere and strong sense of community.This property not only promises stable income through its current rent-stabilized units but also offers substantial upside potential through strategic enhancements and leveraging its prime location.Seize this rare opportunity to invest in a property that combines immediate financial benefits with promising future prospects in one of Brooklyn's most sought-after neighborhoods.
Assessed Value is a combination of the land and additions.
2024
$14,865
(+7.98%)
$531,000
Land 6,300 +
Additions 524,700
2023
$13,767
(+5.28%)
$492,750
Land 6,300 +
Additions 486,450
2022
$13,077
(+7.94%)
$460,350
Land 6,300 +
Additions 454,050
2021
$12,115
(-1.64%)
$368,100
Land 6,300 +
Additions 361,800
2020
$12,318
(+96.26%)
$403,650
Land 6,300 +
Additions 397,350
2019
$6,276
(-39.82%)
$403,650
Land 6,300 +
Additions 397,350
2017
$10,430
$84,705
Land 1,019 +
Additions 83,686
The Property History data displayed is obtained from public records and/or MLS feeds from the local jurisdiction in which the applicable property is located. As kw.com cannot guarantee that all public records and MLS data is accurate and error-free, it is important that you contact your agent directly in order to obtain the most up-to-date information available.
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