MLS® ID: NEST-100330

218 Cumberland Street

Brooklyn, New York, 11205

$2,700,000 Active
  • - SQFT
Great investment opportunity. At $397.73 per square foot, consider this 10-unit stabilized building in the Fort Greene section of Brooklyn. It will be sold in ''As is'' condition with the tenants who are paying a monthly income of $11,208.76, annualized $134,505.12. [ Minus Annual Expenses $36,493.56 = $98,011.56 or Cap 2.8%.] If the building was operating with 10 paying tenants, the DHCR annual income would be $214,495.92 [Minus annual expenses $36,493.56 = $178,002.36 or 5% CAP.] The future income of the building will provide substantial returns and prove to be an excellent legacy investment. The building is in average condition, needs some renovation and the mechanicals are in fair shape.
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Listing courtesy of Coldwell Banker Reliable Real Estate

Amenities

  • Zip
    11205
  • Office name
    Coldwell Banker Reliable Real Estate
  • Bedrooms
    0
  • Property type
    Unknown
  • Year built
    0
  • Agent name
    Mary Kae Higgins
  • Tax amount
    $ 0.0
  • Purchase Type
    Active
  • HOA fees
    $ 0.0
  • Full baths
    0
  • Rent
    No
  • Furnished
    Unfurnished

Location

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