426 Fenimore Street

Rarely available legal 3 Family in Prospect Lefferts Gardens
Rarely available Legal 3 Family with a fully finished basement in Prospect Lefferts Gardens - perfect for an owner/occupier or an investor. All apartments have been excellently maintained and are in great condition. Low expenses make it a great income-producing property with upside and room to grow.

Fully occupied at present but the 1st floor apartment (3 bedroom/1 bath floor-through unit) can be vacant for an owner/occupier. The two 1 bedroom apartments on the 2nd floor are tenanted with good rents and good tenants to offset a potential mortgage payment. Fully finished basement with backyard access can be duplexed with the first floor for added potential.

This is a legal 3 family at the price of a 2 family in one of the most desirable up-and-coming neighborhoods in Brooklyn.

1st floor - 3 BD/1 BA - $2800 monthly rent, lease ends 9/30/19
2nd floor - 1 BD/1 BA - $1700 monthly rent, lease ends 6/30/20
2nd floor - 1 BD/1 BA - $1690 monthly rent, lease ends 8/31/20

Current Cap Rate - 4.2%
Projected Cap Rate - 5.8%