Listed by Brown Harris Stevens
$1,600,000
1192 Greene Avenue
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,204
Units 3
Occupancy 100%
Pro-Forma Cap Rate 10.4%
Pro-Forma NOI $166,474
Price per SqFt $499
Class B
Year Built 1950
Year Renovated 5
Buildings 1
Stories 3
Lot Size (SqFt) 1,942
Zoning R6 (2.43) Height Limit 70’
Investment Type Value Add
Ownership LOCAL
Multifamily | 3 Units | $533,333/unit
Marketing description
A three story three-unit building. The property has a four-bedroom apartment on the first floor. This unit has access to the back yard. The second floor is a four-bedroom floor-through apartment. The third floor is also a four-bedroom floor-through apartment. The basement has a three bedroom apartment which has two means of egress.
The units have a full kitchen and full bathroom and are individually metered for gas and electric. The meters are in the basement and the boiler and water heater is gas.
Investment highlights
The property is a prime investment opportunity, since the units are free market an investor can add value by updating the apartments and giving each unit their own boiler and water heaters. The first floor can be duplexed with the basement, to create a duplex five bedroom garden apartment. The air rights allow another unit to be built above the third floor.
The building is also a great user opportunity, a user can occupy the first floor and basement, the upper floors can be used for income.
Located in Prime Bushwick, which borders Williamsburg and Bedford Stuyvesant. The property is three blocks from the J train on Kosciuszko Street this allows fifteen minutes access to the city.
Listing Contacts
Listed by Brown Harris Stevens
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