Description
PACKAGE SALE OF 330 & 332 GATES.
$243K NOI CURRENT, $265K PRO FORMA.
330 & 332 Gates Avenue offers two spacious three-family townhouses spanning approximately 3,550 square feet each (7,100 SQFT total) on one of the most desirable blocks at the Clinton Hill/Bed-Stuy border. The 18' x 45' buildings are configured as four three-bedroom, one-bathroom floor-through units above two two-bedroom, one-and-a-half-bathroom parlor/basement duplex.
Impeccably maintained and fully rented, the properties generates over $266K in annual rental income with exceptionally low expenses, yielding a net income of approximately $243K. With a strong rent roll and significant upside potential, this is a secure investment opportunity. It also offers a fantastic option for an end-user looking to live in either of the duplexes while earning over $7,000 per month from the upper units (in each building). These buildings are perfect to create a massive single-family home, a larger development site, or an opportunity to acquire six totally unregulated apartments, update them, and increase the rents.
Ideally located near the G and C trains, the home provides easy access to Barclays Center, BAM, Pratt Institute, and Fort Greene Park.
Listing courtesy of Douglas Elliman Real Estate ...More
Property Details
- Multi Family
Amenities
- Attendance: None
- Basement: Other
- Building: Green Building
- Fireplace: Decorative
- Laundry: In Unit
- Patio: None
- Pets: Building Yes, No
- View: Other
