2159 E 2Nd St Brooklyn, NY 11223
Well-maintained six-family building in prime location, strong income potential.
Lot size:
0.05 AcresProperty Features for 2159 E 2Nd St
General Information
- Property type
- Multi Family
- Standard status
- Active
- Lot size
- 0.05 Acres
Building Details
- Year built
- 1928
Source:
Elliman
Listing Agency: RE/MAX Edge Listing Agent: Michelle J. Zhang
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Turnkey Six-Family Income Producer
This six-family building, situated in a prime location near Avenue U in Midwood, presents an exceptional investment opportunity. The building dimensions are 20 feet by 72 feet, and it occupies a 20-foot by 100-foot lot. The property has a clean inspection record, covering the roof, electrical systems, gas, water, and Local Law 11 requirements. The building comprises one-bedroom apartments. All units are fully leased, except for one vacant apartment. The leases include annual rent increases of 3% for one-year terms and 4.5% for two-year terms. The current annual income is approximately $111,000, with annual expenses around $29,200, resulting in a cap rate of 5–5.5%. The building is near Avenue U’s shopping, dining, and services, and is close to P.S 95, parks, and the F train, providing access to Manhattan. The property offers immediate rental income and long-term growth potential in a sought-after neighborhood.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.969202
- Latitude
- 40.59671
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FAQs
What type of property is this?
Apartment building - Well-maintained six-family building in prime location, strong income potential.
Where is this apartment building located?
The property is located at 2159 E 2Nd St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: - Strong Cash Flow: Approximately $111,000 annual income with low expenses, generating a 5-5.5% cap rate.; - Turnkey Condition: Well-maintained building with clean inspection record requiring no major repairs.; - Prime Avenue U/Midwood Location: Close to shopping, dining, services, parks, and top-rated school P.S 95.
