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$ 5,500,000
Est. payment | /mo
19 Baths
18,480 SqFt
$ 5,500,000
Est. payment | /mo
19 Baths
18,480 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 18,480 sqft
Price per Sqft $297
MLS Listing ID 490453
Full Baths 19
Year Built 1931
Annual Tax Amount $64,428
Property Sub-Type Multi-Family
Property Description
A Prime Investment Opportunity in Bensonhurst – Oversized 19-Family Building. Located in the heart of Bensonhurst, one of Brooklyn's most sought-after neighborhoods, this fully detached 19-family building is a rare find. Situated on an oversized 60' x 100' lot with a 60' x 77' building size, this property offers exceptional space and income potential. The unit mix includes 14 spacious one-bedroom apartments and 5 well-designed two-bedroom apartments.
This well-maintained building features an 8-year-old roof, a new heating and hot water boiler, and 19 gas meters that are separately metered for tenants' convenience. The basement storage generates an additional $3,000 per month in income. A recently installed backflow prevention water clock system, valued at $22,000, ensures smooth operation and complies with all inspections. Additionally, 15 kitchens have been newly renovated with modern interiors, while 4 other units remain in excellent condition. The building also offers full camera surveillance for added security, making it a turnkey, hassle-free investment.
Located in an excellent Bensonhurst neighborhood, the property is situated near the Belt Parkway and the D Train subway line, offering easy access to transportation. It is also just a short distance from 86th Street shopping, where numerous shops, restaurants, and amenities await.
Financially, the property boasts an impressive annual income of $394,500 against annual expenses of $119,328, providing a solid 5.5% cap rate. The seller is offering owner financing with 50% down at a competitive 5% interest rate and a 10-year balloon payment, presenting a unique opportunity to secure a high-income property with flexible terms.
Whether you're planning for long-term investment growth or seeking a high-performing asset, this building is a smart and strategic choice.
This well-maintained building features an 8-year-old roof, a new heating and hot water boiler, and 19 gas meters that are separately metered for tenants' convenience. The basement storage generates an additional $3,000 per month in income. A recently installed backflow prevention water clock system, valued at $22,000, ensures smooth operation and complies with all inspections. Additionally, 15 kitchens have been newly renovated with modern interiors, while 4 other units remain in excellent condition. The building also offers full camera surveillance for added security, making it a turnkey, hassle-free investment.
Located in an excellent Bensonhurst neighborhood, the property is situated near the Belt Parkway and the D Train subway line, offering easy access to transportation. It is also just a short distance from 86th Street shopping, where numerous shops, restaurants, and amenities await.
Financially, the property boasts an impressive annual income of $394,500 against annual expenses of $119,328, providing a solid 5.5% cap rate. The seller is offering owner financing with 50% down at a competitive 5% interest rate and a 10-year balloon payment, presenting a unique opportunity to secure a high-income property with flexible terms.
Whether you're planning for long-term investment growth or seeking a high-performing asset, this building is a smart and strategic choice.
Location
State NY
County Kings (brooklyn)
Area Bensonhurst
Rooms
Basement Finished, Separate Entrance, Other
Interior
Hot Water Gas
Heating Gas
Flooring Stone, Tile
Heat Source Gas
Exterior
Exterior Feature Brick
Amenities Available Secure Lobby, Storage rooms
Roof Type Rubber
Handicap Access No
Building
Story 4
Foundation Block, Stone
Others
Energy Description Gas
Financing 1031 Exchange,Bank Mortgage,Cash
Listed by RE/MAX Edge