No work needed! 1234 Bushwick Ave is a turnkey fully renovated three (3) unit multi-family building zoned R6 located in a Qualified Opportunity Zone in the bustling neighborhood of Bushwick, Brooklyn. This property is ideal for investors looking for income producing rent roll and incredible upside with a projected market CAP Rate easily eclipsing +/- 6.5%. Expenses are low including the annual real estate taxes are Tax Class 1 currently $5,239.
The building is three (3) stories tall and offers a full height basement. Sitting on a 20' x 75' lot the above grade total building size is approximately 3,200 SF including the basement with additional 1,245SF of FAR for development. Each unit is a floor-through offering multiple exposures for abundance natural sunlight and boasting private outdoor spaces with the first floor providing an expansive garden/backyard space and the 2nd and 3rd floor units offering high ceilings including large private terraces. Details were retained such as decorative fireplace and modern conveniences are present with the remote-controlled split-system for heating and cooling. The basement is currently setup for central laundry and common storage for the tenants with a potential to duplex with the 1st floor unit in the future for additional upside.
Located in the heart of Bushwick surrounded by restaurants, bars, shopping, and easy transit. The J/Z/L/C trains is minutes away at the Halsey St/Chauncey St/Wilson Ave and Rockaway Ave stations and the B26, B7, and Q24 are right outside. Please call/email for any questions and to obtain a full sales memorandum for the property.
All material herein is intended for information purposes only and has been compiled from sources deemed reliable. Though information is believed to be correct, it is presented subject to errors, omissions, changes, or withdrawal without notice. Buyer to verify all information.
