527 40th Street
Property Description
Exceptional investment and owner-occupant opportunity in prime Sunset Park! This oversized 8-family brick building offers approximately 7,064 sqft of living space and features 8 three-bedroom apartments, including 2 currently vacant units that have recently been gut-renovated. Measuring approximately 25*75 feet on a 25*100-foot lot, the property offers 4 stories over a basement with a separate front entrance. Bright interiors, newly renovated living spaces in the vacant units, and a classic brick facade add to its appeal. Approximate annual income is $165,000, with potential to increase to $178,000, and current annual net operating income is approximately $94,000, offering an approximately 6% cap rate. With existing rental income, growth potential, and flexibility for an owner-occupant, this property is an opportunity you won't want to miss. Won't Last!
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,499,000 |
| Year Built: | 1935 |
| Lot Size: | 7,064.00 Sq ft |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 24 |
| Number of Bathrooms: | 8 |
ID: 3yd-BMLSNY-505263
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