259 East 23rd Street

IN CONTRACTWelcome to 259 East 23rd Street, a classic 20-foot-wide legal two-family brick townhouse built in 1910 in the heart of the new Flatbush renaissance on the border of Ditmas Park. This is an ideal opportunity for a homeowner resident looking to live in one unit while earning income from the other; a unique opportunity to create a magnificent triplex single-family home in one of Brooklyn's re-surging neighborhoods with an easy commute to the city, or an investor (including 1031 exchange) looking for immediate income (proj. Cap Rate 4.3% with current rent roll). The house is turnkey with updated systems blended with original details but could use some updating mostly cosmetic for a more discerning owner whod like to create a dream home for themselves. This 2-story property includes two convertible 3 bedroom floor-through units (plus home office in the top floor apt), featuring hardwood floors and classic details, high ceilings, large windows allowing ample lighting in from both eastern and western exposures, kitchens with modern stainless appliances and wood cabinetry, laundry hook-ups in each apartment; plus 1000 SF shared finished basement with recreation room, laundry, storage, full bath, and boasts an Ecobee smart home thermostat, sensor and remote digital control system for the building (heating), brand new video intercom installed for both units and the basement, plus park-like shared shaded backyard garden. The house has 2000 SF of interior space - 20x53 feet - not including basement, sitting on a 2000 SF lot (20x100) with 700 SF of unused FAR so has long-term potential for expansion if desired. Sears-Roebuck, La Cabaa Rodriguez, Crunch Gym Flatbush and Ditmas Park Yoga Society are 8 minutes away. Nearby transportation includes bus lines: B41, B49, B44 and the property is 1/3 mile from the 2 and 5 train stations (Beverley Road or Newkirk) and approx. half mile from the B and Q trains (Cortelyou or Beverley), all for a subway commute of less than an hour to midtown. There are currently two tenants in place until 3/2019 and 8/2019. One unit can be delivered vacant.