809 Brooklyn Ave

A 25’ wide 2-unit two-story building. The property has a two-bedroom garden apartment on the first floor. This renovated unit has nice wood floors, renovated open kitchen with stainless steel appliances. The kitchen has open access to the living room and the living room has access to the backyard. Both bedrooms are large and spacious big enough fora king or queen size bed or home office. The full bathroom has been renovated with a new sink, tub, tiles and toilet. The property has a central HVAC system and is individually metered for gas and electric. The tenants control their own heat and air conditioning. This floor has 9’ ceilings and the bedrooms have big closets.   

The second floor is a two-bedroom apartment. This renovated unit has nice woodfloors, renovated open kitchen with stainless steel appliances. The kitchen has open access to the living room and the living room has access to the backyard. Both bedrooms are large and spacious big enough for a king or queen size bed or home office. The full bathroom has been renovated with a new sink, tub, tiles and toilet. This floor has 9’ ceilings and the bedrooms have big closets.

The basement has a front entrance and a back entrance, which gives access to the back yard. The space has 7’ 5’’ ceilings with pluming for a half bathroom ands mall kitchen. There is potential to convert the basement into a studio unit. This would greatly increase the cash flow of the property. As a studio unit, it can rent for $1,200 per month. This would increase the cap rate from 5.2% to 6.8%. The value of the property will increase from a two family to a three family. The buyer will be buying the property with lots of equity.        

The property is a prime investment opportunity, an investor can rent out the first and basement as a duplex unit and also rent out the second floor. Since the units are renovated, the investor can rent them out as soon as possible. The apartments are in great demand from Doctors and Nurses at both Kings County Hospital and Brooklyn Hospital.    The building is also a great user opportunity, a family can occupy the ground floor and basement. They canalso rent out the second floor for income.