Located two short blocks from McCarren Park on the border of Williamsburg and Greenpoint, this 4 story multifamily brick building is centrally located with close proximity to the G and L trains as well as the Brooklyn Queens Expressway.  Being on the corner of Graham and Engert Avenue, each of the 8 fully occupied residences get great light from the buildings three exposures.  All of the 7 free market units have been recently renovated with new kitchens, updated bathrooms, and recessed lighting.  The building was converted to gas 5 years ago at the same time that the boilers were replaced.  There are 3 one-bedroom units, 4 two-bedroom units, and 1 three-bedroom unit on the top floor which is rent stabilized.  As demand continues to climb in the Williamsburg-Greenpoint neighborhood, free market rents can be raised upon lease renewal to match the rapidly appreciating market.

Showings by appointment only beginning Friday the 13th at 1pm!

Financials:

Expenses:  

Taxes $ 11, 017.52

Insurance $ 4, 984.00

Heating $ 5, 361.00

Electric $ 756.00

Water/Sewage $ 5, 800.00

Total Annual Expenses:  $27,918

Total Annual Income:  $190,752

Net Operating Income:  $162,834