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1349 57th St, Brooklyn, NY 11219

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For Sale

$1,500,000

12 beds • 6 baths • 5,625 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $266.67
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

RENT STABILIZED. Discover this exceptional investment property-a well-maintained legal 6-family building in the heart of Borough Park. Each of the six units offers 2 bedrooms and 1 bathroom, totaling 4 rooms per unit. Five of the six units are currently occupied, with one vacant, providing immediate potential for increased rental income. With a gross annual income of approximately $94,481, this property promises solid returns. Current rent rolls are as follows: Unit 1 collects $1,320/month (lease ends January 30, 2025), Unit 2 collects $792/month (lease ends January 30, 2025), Unit 3 collects $1,600/month (lease ends June 30, 2025), Unit 4 is vacant but can be rented at $1,130.40/month, Unit 5 collects $1,561/month (lease ends January 30, 2025), and Unit 6 collects $1,470/month (lease ends December 30, 2025). The current annual expenses are as follows: Boro Fuel, $12,888; Water, $9,861; Insurance, $4,836; Electricity, $720; Property Taxes, $23,022. This property offers a prime value-add opportunity with upcoming vacancies and potential rent adjustments. Recent upgrades include a new boiler, new roof, four new refrigerators, and three new ovens, and the current landlord has diligently kept up with maintenance, ensuring the building is in pristine condition. This is a rare chance to acquire a well-maintained, income-producing property with substantial growth potential. Don't miss out on this investment opportunity! As per the seller's request, all showings must be scheduled by appointment only. The seller requires that all interested buyers provide either a proof of funds statement or an up-to-date pre-approval letter to schedule an appointment. Disclaimer: All information provided is deemed reliable, but is not guaranteed and should be independently verified.
MLS# 11363831

Courtesy Of Re/Max Elite

(718) 690-3900

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock
  • Architecture Style
    Other
  • Exterior Type
    Brick
  • Lot Size
    0.06 Acres

Map and Directions

Directions to 1349 57th St, Brooklyn, NY 11219

Home seller CENTURY 21 Verdeschi & Walsh Realty

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Verdeschi & Walsh Realty

(516) 431-6160
Learn More About Us

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Monthly Payment Breakdown

  • Principle and Interest
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  • Property Taxes
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  • Hazard Insurance
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  • Private Mortgage Insurance
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  • HOA Dues
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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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Copyright © 2024 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data powered by Attom Data Solutions. Copyright© 2024. Information deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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