31
See all 31 photos
$1,499,000
Est. payment /mo
24 Beds
8 Baths
7,064 SqFt
New
527 40th ST Brooklyn, NY 11232
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Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,064 sqft
Price per Sqft $212
MLS Listing ID 505263
Bedrooms 24
Full Baths 8
Year Built 1935
Annual Tax Amount $22,424
Property Sub-Type Multi-Family
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 façade 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!
Location
State NY
County Kings (brooklyn)
Area Sunset Park
Zoning R6B
Rooms
Basement Full, Separate Entrance
Interior
Hot Water Oil
Heating Oil
Flooring Hardwood, Laminate, Tile
Heat Source Oil
Exterior
Exterior Feature Brick
Amenities Available NONE
Roof Type Flat
Handicap Access Unknown
Building
Story 4
Foundation Poured Concrete
Others
Energy Description Oil
Financing 1031 Exchange,Bank Mortgage,Cash
Listed by RE/MAX Edge
Nearby Locations
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