Remarks

Located in the coveted neighborhood of Park Slope just around the corner from Prospect Park, 1647 8th Ave represents an investor with the opportunity to acquire a cash flowing hassle free investment property with 100% rent collectinos and plenty of future upside. The current rent roll is below market rents with COVID pricing on many of the units, this adds a value add component for increasing rents significantly as the leases expire. Rents in the area have seen an increase of more then 30% from a year ago, and we have just leased out unit #2B at a 37% increase from a year ago. The building is also in a proected class tax ensuring that the taxes increases will be limited.Located in Prime Park Slope Location around the corner from Prospect Park, the F/G subway lines, and a block from 7th Ave the commercial corridor which Park Slope is famous for.The building benefits from a shared yard, a tenants lounge, storage cages, and laundry allaccessable from the common basement of the building.Configured as 5 two bedroom units and one 1 bedroom unit all featuring their own hot water tanks and split unit HVAC systems minimizing the owners expenses.*Please confrim with all applicable professionals as Real Street Inc makes no representation beyond what owners have relayed.

Details

MLS#: 11207276
Price: $4,995,000

Style: Residential Rental
Bedrooms: 11
Baths Full: 6
Baths Half: 0
Sq Ft: 0
Year Built: 1923

County: Kings
Tax Fee: 0

School District: 000000