673 Metropolitan Avenue
Multifamily | 3 Units | $1,000,000/unit
Marketing description
A 16’ wide two-unit three story building. The property has a two bedroom, with two full bathrooms on the ground floor. The unit has a living/dining area and a full kitchen. This apartment has access to the back yard.
The first floor and second floors each is a three-bedroom floor-through apartment. The apartments have two full bathrooms, a full kitchen a living/dining area. All the apartments have nice wood floors, the bedrooms are spacious with a good size closet. The kitchens have stainless steel appliances, along with a washer & dryer, microwave and dishwasher.
There is common hallway storage closets. The apartments are individually metered for gas and electric. The property is located one block from Graham Avenue which has nice restaurants and brand name retail stores. The L train is also on Graham Avenue & Metropolitan Avenue.
The building is a great user opportunity, a user can live on the ground floor apartment and rent out the upper two floors.
Investment highlights
The property is a prime investment opportunity, because the units are renovated and free market this will allow an investor to always rent them out at full market value.
Income:
Unit Description Unit Type Rev Projected Lxp
Ground Flr: 1 2 Bd Apt Free Market $3,200 $3,500 6/25
First Flr: 2 3 Bd Apt Free Market $5,500 $5,700 12/24
Second Flr: 3 3 Bd Apt Free Market $5,200 $5,700 1/25
Projected Monthly Income: $13,900 $14,900
Projected Annual Income: $166,800 $178,800
Expenses:
Real Estate Taxes:
$3,886.00
Water & Sewer:
$1,800.00
Insurance:
$4,000.00
Heat (Gas):
$4,500.00
Electric: (common areas)
$1,200.00
Repairs & Maintenance:
Total Annual Expenses
$1,800.00
$17,186
Net Operating Income: $161,614
ASKING PRICE: $3,000,000 Cap Rate 5.4%
For Further Information or Inspection, Please Contact Sales Agent:
Kervin Vales (212) 396-8244
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
