This 16 Unit Multifamily Building poses a unique opportunity for investor or 1031 exchange in Prime Park Slope, Brooklyn. Complete with a great mix of 1, 2, and 3 bedroom units this building has a total of 29 bedrooms earning over $350,000 in annual rental income.
With 11,844 square feet this outstanding rental building is overbuilt by approximately 3,649 square feet and consists of 16 units: 9 free market and 7 regulated. Of the 7 regulated apartments 1 is within a hundred dollars of free market rent and two will be delivered vacant.
In the past two years, the building has been improved by a new roof and renovated common areas. The mechanics are in new condition an extremely low maintenance property. 419 16th Street benefits from close proximity to two main shopping corridors on the 7th Ave and Prospect Park West. The building is 1 block from the subway and 1 block from Prospect Park.
There are several CitiBike stations and MTA bus stops with a short work.