Bushwick

$2,000,000

Listing ID: 74870TH

Listing Description
254 Menahan is the perfect property for either an investor or an owner looking to purchase a gut renovated asset in in a prime Bushwick location. The oversized home (20 ft.x 62 ft) is a legal three family house that is currently fully leased to outstanding tenants. Each apartment features renovated kitchens and bathrooms, hardwood floors, exquisite light and exceptional layouts. The first floor apartment has three oversized bedrooms and a large private backyard, which was recently landscaped. It is an ideal rental, or perfect for an owner who is looking to live in the home while collecting strong rents from the upper units ($3000 each). The upper two units each feature four bedrooms and two bathrooms and are 1200 sq. ft. of living space. The mechanicals in the building have all been updated. Each unit has its own newly installed boiler and hot water heater, which keep the owner’s utility expense to a minimum. Finally, 254 Menahan is located steps from the subway, bars and restaurants, all of which make Bushwick an exceptional place to live, work and play. Building currently operates at 5% cap rate.
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General Details
Price
$2,000,000
Mortgage Calculator
Ownership
Multi-Family
Status
Active
Block / Lot
3317 / 23
Approx SF
3,720
Lot Size [W x D]
20'x100'
Built Size [W x D]
20'x62'
Floors | Apts
3 | 3
Year Built
1931
Listing ID
74870TH
Income Per Annum Actual
Residential
$108,000
Gross Income
$108,000
Expenses Per Annum
RE Taxes
$3,401
Gross Expenses
$3,401
Gross Income
$108,000
Net Operating Income
$104,599