34-51 9th Street

Property consists of two contiguous lots improved with a three-story, 12-family apartment building. Their are seven two-bedroom apartments, two one-bedroom apartments, two-three bedroom apartments and one four-bedroom duplex, all in excellent condition and have been renovated with new kitchens, bathrooms and windows. Apartments are separately metered. Building has been very well maintained with full, finished basement, new boiler and new roof. There is a driveway on the south side of the building with access to the shed in the rear as well as parking space. Property also has an assumable mortgage available at 4% interest with a balloon payment due in March 2018.
Features:
• Twelve (12) units
• Well Maintained, excellent condition
• New roof and boiler
• All units have separate meters
• Fully rented at below market rents
• Four Section-8 units with expired leases coming up
• Several new developmental projects in area
• NYC skyline

Developer Michael Heletz has filed permits for a six-story, 79-unit building one block away from listing. Queens-based firm PACS Architecture has signed on to design the property, which is unofficially known as Vernon Tower. Located at 31-43 Vernon Boulevard, near Socrates Sculpture Park, the 66,300-square-foot building will hold nearly 1,500 square feet in ground-floor retail space, and rise about 61 feet. Heletz intends to break ground on the site this spring, New York Yimby reported.