696 East 96th Street
Turn Key Multi-Family Building with Private Parking Garage
Marketing description
Turnkey multifamily investment
636 East 96 Street is a well-maintained masonry building spanning approximately 5,500 square feet above-grade and features a shared driveway with parking for 2 cares in the back.
The building hosts 6 apartments, all of which are rent stabilized and configured as 3 BR apartments. The building is being offered for sale for the first time in almost 15 years.
Current ownership has taken long-term care of the property, offering new ownership a turn-key cash flowing asset.
The asset currently generates over $202,000 gross annually. Building currently averages $36.98 AGI/NSF, equating to an average monthly rent of $2,814 per apartment, equating to 90% of market rent. This allows future investors to take advantage of immediate rental income on day one with virtually no work.
- Ideal location with multiple amenities Subway: Saratoga Avenue Station (3, 4 lines) is the primary station, approximately a 13-14 minute walk or a 3-minute drive, according to 4 and 6. Bus: The Linden Blvd & Rockaway Pkwy stop is nearby. Commuter Rail: The East New York Station is also available for commuting.
Investment highlights
Turnkey multifamily investment
636 East 96 Street is a well-maintained masonry building spanning approximately 5,500 square feet above-grade and features a shared driveway with parking for 2 cares in the back.
The building hosts 6 apartments, all of which are rent stabilized and configured as 3 BR apartments. The building is being offered for sale for the first time in almost 15 years.
Current ownership has taken long-term care of the property, offering new ownership a turn-key cash flowing asset.
The asset currently generates over $202,000 gross annually. Building currently averages $36.98 AGI/NSF, equating to an average monthly rent of $2,814 per apartment, equating to 90% of market rent. This allows future investors to take advantage of immediate rental income on day one with virtually no work.
Ideal location with multiple amenities Subway: Saratoga Avenue Station (3, 4 lines) is the primary station, approximately a 13-14 minute walk or a 3-minute drive, according to 4 and 6. Bus: The Linden Blvd & Rockaway Pkwy stop is nearby. Commuter Rail: The East New York Station is also available for commuting.
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