Description
This 25-foot wide Bushwick six-family rent-stabilized building currently delivers an immediate approximate capitalization rate of over 6% with room to grow to over 8% based on the legally registered rents.
With six floor-through apartments and just two apartments per floor, tenants enjoy privacy and ease of access through two entries into each apartment.
The entire full-height basement can be used for storage, laundry, recreation, or other additional revenue streams. It can be accessed through the building's common hall or via the private facade entrance in front of the building.
The building also boasts a private 37-foot deep backyard that is not currently in use by any tenants and could provide ample revenue opportunities.
1477 Bushwick Avenue is located in the heart of Bushwick among shops, bars, and restaurants. The building is easily accessible via the L, J, and Z subway lines, multiple bus lines, and Citi Bike.
*Please consult with your financial advisor regarding this investment opportunity.
Location
1477 Bushwick Avenue, New York City, NY 11207
Listing courtesy of Rita Kee
