Price Improvement! 6.8% cap rate in an incredible location, where Greenpoint meets Williamsburg. Just steps from McCarren and McGolrick Parks.
This six unit property presents an excellent opportunity for either an investor or an owner who can occupy the entire ground floor with a private garden and collect rents from the other 4 units above. Currently, the building consists of 6 spacious one bedroom rent stabilized apartments, 2 of which will be delivered vacant including both ground level apartments. A great value-add opportunity, the purchaser may combine the two ground floor units to create a large 3 bedroom, 2 bathroom apartment with private access to a very large and tranquil backyard. The huge cellar can be kept for private use or shared with tenants for storage.
Historic details such as tin ceilings, wall moldings, and fireplace mantles add charm, and all 6 floor-through units get plenty of light. The building has been well maintained by the current owner including a new roof that was recently replaced. This property is close to many highly acclaimed restaurants and neighborhood coffee shops and is an easy walk to the Nassau Ave G train and the Graham Ave L train. This is an excellent opportunity to own a well maintained building in a prime Greenpoint location.
The property is tax class protected and tenants pay for electric, which helps keep costs low. Full set up with rent roll and expenses provided upon request.
3,750 square feet
Building Dimensions: 25 ft x 50 ft
Lot Dimensions: 25 ft x 100 ft
Zoning: R6B
Annual Taxes: $8,982
Current FAR: 1.5
Max FAR: 2.0
There is an additional 1,250 square feet of buildable area for an extension.
