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Map
$1,320,242*
●
Multifamily -
Off Market
347 chauncey street
Brooklyn, NY 11233
Studio
6 Baths
4500 Sqft
$1,125,000 - $1,375,000
Reference Base Price*
5.62%
Since Apr 1, 2023
NY-New York
Primary Model
About This Property
Commercial Investment. 6 Unit Multi-Family Building. 1031 Exchange
Option. Nearby Stuyvesant Heights. I 4 Vacant Units.I
Projected 7% Cap RateI 2 Occupied Units. The strong demand for
sales and rentals continues to drive the residential market in
Bedford Stuyvesant, offering investors the opportunity to acquire
an asset with considerable long-term upside as either a long-term
rental property or condominium conversion in the coming years.
Ralph and Howard Avenue cross streets. Rent Stabilized Building.
Left and Right Unit Layouts. First floor ( 2
apartments) - 2 bedroom | 1 Bath Second floor -( 2
apartments) 2 Bedroom | 1 Bath Third Floor- ( 2 apartments) 2
Bedroom | 1 Bath 140k+ Annual rent roll based on NYC
market allowances. Projected $2527.00 for each 2 bedroom.
12k Gross monthly projected income. As per NYC allowances.
Currently 2 Occupied Units.(1L/2R) Building Sold "As
is". Total 4500 Square Feet. 6 Families of this kind
rarely find their way to the market in today's competitive climate.
Immediate cash flow from beginning of investment. The
full English basement is currently underutilized and can be
converted into common space for the tenants in the form of laundry,
storage, bike storage and even fitness amenities. The potential to
duplex the basement and the first floor must be consulted with an
architect. The owner's expenses only include taxes,
insurance, gas, and water creating an attractive 7% cap rate.
Protect yourself against inflation and park your money in this
multifamily investment. Motivated Seller. Easy Access. Seller
can provide sellers concession for closing costs.
Built 1899 Building Size: 22×45 Square footage:
4500 Lot Size: 24.5×100 Zoning: R6B Taxes:
$6436.00 500SF of Development Rights Contact
listing agent to view. 2% Co-broke to Buyer's agent.
The manager has listed the unit size as 4500 square feet.
The manager has listed the unit size as 4500 square feet.
Unit Size
4,500Ft²
Days on Market
-
Land Size
-
Price per sqft
$278
Property Type
Multifamily
Property Taxes
$539
HOA Dues
-
Year Built
1906
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Mar 10, 2023 | No longer available | - | |
No longer available | |||
Feb 28, 2023 | Price Decreased |
$1,250,000
↓ $25K
(2%)
|
|
Price Decreased | |||
Feb 9, 2023 | Price Decreased |
$1,275,000
↓ $25K
(1.9%)
|
|
Price Decreased | |||
Feb 2, 2023 | Price Decreased |
$1,300,000
↓ $100K
(7.1%)
|
|
Price Decreased | |||
Jan 20, 2023 | Price Decreased |
$1,400,000
↓ $100K
(6.7%)
|
|
Price Decreased |
Show More
Property Highlights
Garage
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Townhouse
Stu
-
2,964 ft²
$481/ft²
$1,425,000
Oct 1, 2022
$1,425,000
Jan 1, 1900
-
Townhouse
Stu
-
-
$1,300,000
Mar 23, 2021
$1,300,000
Aug 20, 2021
$360/mo
Active
Multifamily
8
Beds
3
Baths
3,000 ft²
$400/ft²
$1,200,000
Mar 10, 2018
-
-
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
11/07/2022
|
|
Studio
|
6 Bath
|
4500 ft²
|
$1,450,000
Studio
6 Bath
4500 ft²
|
-
07/14/2023
|
Joshua Brown
PUSHING FORWARD REALTY LLC
|
|
05/01/2017
|
|
Studio
|
-
|
-
|
-
Studio
-
|
-
-
|
-
|
Richard Flateau
FLATEAU REALTY CORP
|