20 Folsom Pl Brooklyn, NY 11208

Property Details for 20 Folsom Pl

Property size

1,200 SF

Property type

Commercial real estate

Description

This exceptional mixed-use property, located at 20 Folsom Place in Brooklyn, New York, presents a lucrative investment opportunity. The 1,200 square foot building is a well-maintained two-family home situated in the desirable East New York neighborhood. Each of the two apartments boasts a spacious eat-in kitchen with a combined dining and living area, two bedrooms, and one full bathroom, providing comfortable living spaces for tenants. Currently, the first-floor apartment generates a monthly rental income of $1,400, while the second-floor apartment commands $1,700 per month, resulting in a substantial combined monthly rental income. The property also features a large, fully finished basement, adding significant potential for additional living space or storage. Recent upgrades include a new boiler and upgraded electrical systems, ensuring efficient and reliable operation. Adding to its appeal is a fenced yard, providing privacy and outdoor space. The property's convenient location is a key advantage, being approximately four blocks from the J train and within easy reach of bus routes, shopping centers, and schools. This makes it highly attractive to tenants and ensures consistent occupancy. The asking price for this income-generating property is $750,000. This represents a compelling investment opportunity in a thriving Brooklyn neighborhood.