438 Franklin Ave

PRIME LOCATION TOWNHOUSE w 12 rooms // 3 APARTMENTS BED STUY/ CLINTON HILL 3 FAMILY TOWNHOUSE LOCATION… LOCATION… LOCATION… 3 UNITS WITH FULL BASEMENT AND GARDEN Built in 2009 and well maintained since, this three-family townhouse is in excellent condition. The property includes a 1,000 SF two-bedroom, one-bath unit on the first floor, and two 1,100 SF three-bedroom, two-bath units on the second and third floors—making it an outstanding investment opportunity. With a maximum allowable FAR of 3.00 and an existing FAR of 2.15, zoning permits the addition of approximately 1,700 SF to the current 4,300 SF structure. All units are separately metered, with tenants paying their own utilities. Each unit features its own boiler and hot water heater, in-unit washer and dryer, and dedicated storage space in the basement. This is a property you do not want to miss. Asking price $2M; delivered with tenants in place. ============= LEASES IN PLACE * Apt 1: $3,200; Lease ends October 31, 2025 * Apt 2: $4,200; Lease ends July 31, 2026 * Apt 3: $3,600; Lease ends March 31, 2026. ==> TOTAL INCOME: $132,000 per year EXPENSES Property tax .......... $12 ,888 per year Water / Sewer ..... $1,540 per year Insurance ................. $2,840 per year ==>TOTAL EXPENSES: $17,268 per year GROSS PROFIT: $114,732 per year