182 17th Street

Greenwood Heights, Brooklyn, NY 11215

6-Unit Brick Building for Sale in South Slope / Greenwood Heights. First time on the market in decades! Very well-maintained, there are 6 units (2 x 2-bedroom units, and 4 1-bedroom units) plus a full-sized basement with high ceilings and 2 separate entrances. Four units will be delivered vacant. Remaining tenants pay on time and have been in the building for a long time. Units were renovated as tenants moved out. The building features super high ceilings that are 9 ft+, granite countertops, new floors, new boiler, and much much more. There are separate gas and electric meters for each apartment so tenants pay their own electric and cooking gas. $97,538 rental income a year. With annual expenses at $35,417, the net income is $62,122 per year. If converted to Free Market Units, the conservative potential net income, based on NYC Section 8 rents, would be approx. $166,000 per year. The building is fully Rent Stabilized. In order to convert to Free Market Rents, you can do a Substantial Renovation (75 - 80% renovation) or a Coop / Condo Conversion. Please consult your architect and attorney for the specific process. Centrally located near shopping, restaurants, schools, places of worship, and public transportation. The D, N, R, W, F, and G trains are nearby. Also very easy to jump onto the Prospect Expressway + NY-27. Great building to live and collect rent! Come and take a look for yourself!

This is an Active listing.

Broker Office Phone Number: 718-569-2888

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