Presenting 731 40th Street an exceptional FREE-MARKET 4-Unit Residential Building situated between 7th and 8th Ave; prime location of the thriving neighborhood of Sunset Park. Brooklyn! This outstanding investment opportunity is delivered fully occupied with fantastic income valued at a 5.24% Cap Rate. The property is classified under a favorable Tax Class 2A and projected to increase up to 7.10% Cap Rate.
Set on a spacious 25' x 100', this property boasts two detached buildings with a charming middle courtyard and a rear yard, providing the potential for multiple private outdoor spaces. The 4 units consists of 1 cozy - 1BR/1 Bath unit, 2 - 2BR/1BA units, and lastly an immaculate 1BR/1.5BA Duplex unit. The building can have substantial rent increase with modest capital investment. Maximize the return on the investment by maintaining or increasing the current high cash flow! Inside the units, you will find hardwood flooring, exposed brick, high ceilings, and large windows. Opportunity for laundry and storage for the buildings in the front cellar area.
This property is located in the center of Sunset Park. Easy access into Manhattan with D train only two blocks away. The South Brooklyn Ferry is near-by which make stops at Governors Island, Red Hook, Wall Street in Manhattan and etc. Plethora of local restaurants such as Parlay, Tacos El Bronco, Frying Pan Brooklyn, Table 87, Japan town and small microbrewery in Industry city. You can also get a view of Manhattan Harbor and Status of Liberty from the highest elevated point from the Namesake Park nearby.
