350 East 51st Street

350 E 51st St – Listing DescriptionInvestment Opportunity – Legal 6-Unit Building in BrooklynWelcome to 350 E 51st Street, a legal six-unit multifamily property offering an excellent opportunity to acquire an established income-producing asset in a highly active Brooklyn rental market.The building consists of six residential apartments, including one one-bedroom unit and five two-bedroom units, providing a strong and diversified rent roll. The property is rent stabilized and is currently occupied, making it well suited for an investor looking for an existing multifamily asset with consistent in-place income.The building is in good overall condition and also features an unfinished basement currently utilized for storage, providing additional functional space for the property.Conveniently located in Brooklyn with access to neighborhood shopping, restaurants, schools, parks, public transportation, and major roadways, the property benefits from the consistent rental demand and accessibility that make this area attractive to long-term multifamily investors.Property Highlights:Legal 6-unit multifamily buildingRent stabilized1 one-bedroom apartment5 two-bedroom apartmentsStrong existing rent rollProperty currently occupiedGood overall conditionUnfinished basement utilized for storageEstablished Brooklyn rental locationExcellent opportunity for a long-term multifamily investorPrivate showings only.Income & Expense Overview – 350 E 51st StCurrent Rent Roll:1F – 1 Bedroom: $1,200/month1B – 2 Bedroom: $1,400/month2F – 2 Bedroom: $1,578/month2B – 2 Bedroom: $1,360/month3F – 2 Bedroom (Family Occupied): $500/month3B – 2 Bedroom: $1,430/monthCurrent Monthly Gross Income: $7,468Current Annual Gross Income: $89,616Estimated Annual Operating Expenses:Real Estate Taxes: Approximately $12,000Insurance: $3,800Fuel: $5,000Other Expenses: $3,000Total Estimated Annual Expenses: $23,800Estimated Net Operating Income (NOI): $65,816 annuallyIncome and expenses are based on information provided by ownership and are subject to independent verification by prospective purchasers.