70 Nichols Avenue
Property Description
Investment Opportunity - Two-Family in Cypress Hills Excellent investment opportunity at 70 Nichols Avenue, Brooklyn, NY 11208! This two-family property offers a desirable 4-bedroom over 4-bedroom configuration, providing investors with substantial rental-income potential and long-term flexibility. Both residential apartment has its own electric meter, gas meter, and dedicated A. O. Smith hot-water tank, giving each unit independent utility service and helping simplify property management. The property has benefited from significant infrastructure and capital improvements, including updated electrical wiring throughout the first floor, second floor, and basement; three electrical panels; extensive basement plumbing and drainage upgrades; foundation waterproofing; exterior concrete and sidewalk improvements; and an approximately 3-year-old roof. The property also features forced-air heating with ductwork throughout and a private security camera system. Additional improvements include an enhanced roof rainwater drainage system that directs runoff toward the rear yard, which, according to the owner, was completed and approved by the Building Department. The basement provides two separate sections with front and rear entrances, a dedicated electrical panel, tile flooring throughout much of the space, and upgraded rear stone steps. Interior access from the first floor leads through to the private backyard with a detached storage shed. For the investor looking to acquire a legal Brooklyn two-family with large residential units, separately metered utilities, numerous major improvements already completed, and strong income-producing potential, 70 Nichols Avenue deserves serious consideration. Whether added to an existing portfolio or purchased as an owner-occupied investment, this property offers the combination investors look for: space, utility separation, infrastructure improvements, rental potential, and long-term value.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $959,000 |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 8 |
| Number of Bathrooms: | 3 |
ID: 3yd-BMLSNY-504421
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