383 East 52nd Street
Multifamily | 6.50% CAP | 6 Units
Marketing description
A 24’ wide 6-unit three story apartment building. The units are located to the front and back of the property. The first floor front unit is a one-bedroom apartment, all the other units are two-bedroom apartments. The units have a living/ dining area a full kitchen and full bathroom. All the units are rent stabilized. They are individually metered for cooking gas and electric. All the meters are in the basement which has 7’ ceilings. The building has a gas boiler, water heater.
Investment highlights
The property is a prime investment opportunity because it has stable cash flow. Value can be added by up-dating the common areas and stairs. The lot size gives the property the potential to be developed into a condo apartment building.
The property is also a great user opportunity, a user can take an apartment on the first floor and duplex it with the basement. The upper floor units can be rented for income.
The property is located one a nice residential block with mostly single and two family homes, the area is quiet and family oriented.
Located right off Church Avenue, the property has access to Bobby’s Department store, Walgreens, Chase Bank and many retail stores.
The 46 Bus runs along Utica Avenue, to Eastern Parkway, to the 2, 3, 4 & 5 trains. The 35 Bus runs along Church Avenue, to Nostrand Avenue. All these factors gives the apartments high demand in the area.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
