Aug 17th 2025
9-unit four story brick apartment building. The
basement has a one-bedroom apartment with storage space. The
second floor has two units, they are each three-bedroom
apartments with a full kitchen, a full bathroom and living room.
The third floor has two units, they are each three-bedroom
apartments with a full kitchen, a full bathroom and living room.
The fourth floor has two units, they are each three-bedroom
apartments with a full kitchen, a full bathroom and living room.
The building has a front yard along with a back yard and five
garages with six parking spaces along with a shared drive way.
The property is individually metered for gas and electric all the
meters are in the basement. The boiler and water heater is gas, the
roof is new.
The property is located in Prospect-Lefferts Gardens which is under
a lot of development because of it's proximity to Prospect Park and
access to the 2, 5 and Q trains
This Brooklyn property is a great investment/development opportunity because they have big and
spacious bedrooms when the tenants vacate the units there will be a lot of demand for them.
The basement has enough space to create another one-bedroom apartment. The six parking
spaces can be converted into storage space or live-work space. There is the potential to add
value by duplexing the apartments. The first floor can be duplexed with the basement
to create two duplex garden apartments. The second and third floor can be duplexed to
create two duplex apartments and the fourth floor can be duplexed by using the air
rights to create a fifth floor. The property can have a total of six free market units.
Once the building is vacant you can reconfigure the units instead of two-three bedroom
apartments per floor, you can have three units per floor. They can be a one-two
bedroom apartment and two, two-bedroom apartments. They rent much faster than the
three-bedroom apartments.
Note: The apartments have not been registered with DHCR for many years. There are
also no leases.
The first parking space tenant is a lady from PA she pays $100 per month.
The second parking space tenant is apt 1A on the first floor she pay $60 per month.
The third parking space is apt 2A on the second floor he pays $100 per month.
The fouth parking space also pays $100 per month.
The fifth parking space is a lady across the street, she pays $100 per month.
Revenue:
Unit Description Unit Type Revenue Proj
First Floor: 1A
1B
3-Bedroom Apt
3-Bedroom Apt
Rent Stabilized
Rent Stabilized
$1,306
$964
$4,500
$4,500
Second Floor: 2A
2B
3-Bedroom Apt
3-Bedroom Apt
Rent Stabilized
Rent Stabilized
$634
$640
$4,250
$4,250
Third Floor: 3A 3-Bedroom Apt Rent Stabilized $931 $3,750
3B 3-Bedroom Apt Rent Stabilized $200 $3,750
Fourth Floor: 4A 3-Bedroom Apt Rent Stabilized $1,320 $3,500
4B 3-Bedroom Apt Rent Stabilized $647 $3,500
Basement: 1 1-Bedroom Apt Rent Stabilized $467 $2,500
$7,109 $34,500
$460 $2,369
Monthly
Income:
Income From
Parking:
Total Monthly
Income:
$7,569 $36
Net Operating Income: $397,389.00 CAP RATE: 33.1%
ASKING PRICE: $1.2Ⓜ️
Sales@hflipper.com