1740 E 4th St Brooklyn, NY 11223

A rare opportunity to purchase a VACANT multi-family property. This semi-attached six family three-story building is all brick with a full basement, built in the early 1900. The building is 25 by 86 on a 25 x 100 lot, it offers two units on each floor, two 820 sq. ft. two bedroom apartments on the second and third floors, one 640 sq. ft. 1-bedroom apartment and one 820 sq. ft. two bedroom apartment on the ground floor. This building has a full basement with a separate, locked, storage-area and plenty of space to create a coin-operated laundry room. Upgraded amenities within the last 10 to 15 years include, new roof, new windows, new electrical wiring and new gas boiler. In addition, three apartments were renovated, creating market value rent, plus current DHCRs show the legal projected rents competitive with today’s rental market and offer a projected cap rate of 6.03%. The building is located three blocks from F-train subway line, walking distance from Ocean Parkway, a short driving distance to Manhattan and major highways. Close to Avenue P and MC Donald Avenue shopping areas. This is an excellent opportunity for investing in a solid financial building or converting/developing into condominium project.