1836 Prospect Place

1836 Prospect Place is a brick townhouse currently configured as a 2-unit building in bustling and upcoming Ocean Hill in Bedford-Stuyvesant and neighboring Crown Heights. This property is ideal for investors looking for value and upside with a projected market CAP Rate easily eclipsing +/- 7%. Expenses are low including the annual real estate taxes which are Tax Class 1 currently $2,219. There is a curb-cut and driveway which allows parking in front and inside of the building. Previously there was a garage in the premise.

The property is 20' x 55' sitting on 20' x 127.75' lot which means opportunity to expand in the future should you choose. Tremendous upside as it will be delivered completely vacant and there is approx. 6,209SF of residential or 12,264 of community facility development with R6 zoning in a Qualified Opportunity Zone. Perfect for experienced investors and developers alike, looking to add to the community and take advantage of preferential tax treatment. There is no capital gains tax upon the sale of investments in Qualified Opportunity Zone (QOZ) if held for 10 years. There is also no depreciation recapture.

Enjoy the neighborhood conveniences and amenities of Ocean Hill/Bedford-Stuyvesant and neighboring Crown Heights: from the Stuyvesant Heights cafes and restaurant scene, Broadway's shops and services, and a short walk to the C subway stations at Rockaway Ave/Ralph Ave and further for the L & 3 subway stations at Sutter Ave/Atlantic Ave.

All material herein is intended for information purposes only and has been compiled from sources deemed reliable. Though information is believed to be correct, it is presented subject to errors, omissions, changes, or withdrawal without notice. Buyer to verify all information.