427 36th Street

Legal 3 family on a treelined block in prime Greenwood Heights, 17 x 45 on 17 x 100 lot. Currently set up as 3 rentals with a cap rate of 4.5% as is, 5.5% with improvements. Easy to convert to single family or duplex with rental. 3 stories plus finished basement. 1100+ SF in additional FAR. Current Rent Roll Garden Apt: 1 bedroom 1 bath plus oversized backyard ($1900) Apt 2: 1+ bedroom 1 bath plus balcony ($2100) Apt 3: 2 bedroom 1 bath ($1850) ProForma with improvements Garden Apt: $2600 Apt 2: $2500 Apt 3: $2200 Can be delivered vacant or with tenants. About Greenwood Heights: *Greenwood is a well-kept secret for those seeking a quiet and affordable neighborhood with easy and quick access to Manhattan. * One block from express train stop (N, D, R) – 2 stops to downtown Manhattan, 20 minutes to Union Square! * Walking distance to hot Industry City, bustling Sunset Park and trendy South Slope. A longer stroll up 4th Ave brings you to Barclays Center and Atlantic Terminal.