385 Vernon Ave Unit 1 Brooklyn, NY 11206

This 2007 building includes 16 residential units (all 2 bedroom, 1 bath with semi-private front terraces), with roof deck, laundry room and basement storage and 6 parking spaces. One block from the Broadway-Myrtle J-M-Z trains station, it' s less than 15 minutes into lower Manhattan on the local and just two stops on the ex-press. Currently self-managed, non-tax non-insurance expenses are consistently less than $10,000 per year. 11206 is one of the fastest changing and appreciating zip-codes in the country and has experienced a recent spike in rent average two bedrooms in the neighborhood now exceed $2,300 per month. Current leases in this building are all at $1,650 and $1,700 per month and many tenants are still original occupants. The area's lack inventory of apartments and the building's recent construction make this building an excellent candidate for condo conversion. Nearby condominium re-sales are asking between $457-594 per square foot.

Bushwick - Bedford-Stuyvesant Border. Around the corner from Myrtle-Broadway J-M-Z