861 East 51st Street

Two-of-a-kind, extraordinarily large legal Three Family in East Flatbush is a perfect option for the end user or investor buyer. Aside from the attached twin building, no other three family property of this size exists in this neighborhood! Each apartment is almost 1300 square feet and features three bedrooms and two bathrooms, including a king sized Master Bedroom with en suite bathroom. With hardwood floors throughout, the layouts are identical across the three floors, with variations in the entrance to the spacious living rooms, all brightened by oversized panel windows. A formal dining area opens to a windowed kitchen, offering convenience and flow, whether entertaining friends or multi-tasking with family. The finished basement and the 1st floor apartment share an exterior entryway and foyer. The basement stairs lead to two bedrooms and two bathrooms, one of them en suite, along with a laundry room, utility room and living space. In addition to a narrow backyard, this incredible property offers a three car driveway. Imagine… private parking in East Flatbush!

This home is conveniently located a block from the B7, B8, and B46 Select Bus stop, making it only 4 stops to the 3 and 4 trains, and 5 stops to the A and C train lines. Conveniences like eateries, dry cleaners, and supermarkets are within blocks. The current monthly rent roll is $7600. The net operating [after expenses] income is $69,260 per year. The first and second floor units will be delivered occupied by great tenants, neither of whom have a lease, and the light-filled third floor will be delivered vacant. If an accepted buyer wanted the vacant unit to be rented before closing, it can be arranged. Property is well maintained and has a 1.5 year old roof, and relatively brand new water heater. Here’s a rare opportunity to own an investment property in a steadily appreciating neighborhood with high rental demand, or to move into a spacious home that pays for itself. Come see for yourself, what the fuss is all about!
Note: Listing agent has an equity interest in this property.