286 Clifton Place

Welcome to 286 Clifton Place located on a beautiful tree-lined Brownstone street on the boarder of Clinton Hill & Bedford-Stuyvesant. This rarely found high income producing 3-family property boasts a 5.8% cap rate.  A perfect, gut renovated, 3-family home that’s fully leased and grossing $12,300/month in rent - effectively covering the entire mortgage.

The 4-story townhouse has been completely reimagined with modern upgrades, amenities and tasteful finishes that today's discerning buyers look for.  Upon arriving, the grand Brownstone steps will lead you into the Owner's Parlor & Garden duplex with a fully finished basement, 2 spacious bedrooms, 2.5 baths and a modern enclosed backyard.  The open concept living, dining and kitchen area feature high ceilings, new flooring and an ornamental fireplace. The brand new kitchen is bright and appealing with new cabinetry, granite counter-tops and high-end stainless steel appliances including a massive Frigidaire professional series refrigerator. The back door opens to a large relaxing deck that overlooks the backyard and private garden. The South facing sun-soaked master bedroom also peers into the backyard which is privately enclosed with a sleek modern wood fence.  A canopying tree completes this meditative paradise and oasis. The master en-suite bathroom is beautified with wall to wall marble and is complimented with a large walk-in closet. The fully finished basement provides for ample storage space or optional rec room.  The home is fitted with Forced-Air heating & cooling system, vented washers & dryers and an ADT security system.

Additionally, both rental units were recently renovated with brand new kitchens and bathrooms to fully maximize rental income potential.  Each apartment has hardwood floors through-out, decorative mantles and are completely bathed in natural light from both exposures. Transportation to the city is stellar with just a short distance to either the Bedford-Nostrand G train or down to the A/C lines at Nostrand Ave express stop. Bedford and Nostrand are bustling with trendy neighborhood shops, cafes, and award-winning restaurants.

Rents:

Apt 1 - $6,000
Apt 2 - $3,150
Apt 3 - $3,150

Note: The home recently underwent a conversion to a 3-family (pending) and as such brought to current building codes. This neighborhood is seeing an unprecedented number of renovations. There is great potential for rental up-side and the upward neighborhood appreciation in home values make this property a sound investment.