> A fantastic investment opportunity in New York s next hot neighborhood: this 5-story, 25-foot-wide, multi-family brownstone houses eight stunning and spacious lofts, six of which have been gut-renovated.> Each loft is equipped with high ceilings and oversized windows that let in tons of natural light.> The exquisite renovation added beautiful new hardwood floors, gourmet stainless steel open kitchens, and washer/dryers in each apartment, while carefully preserving historic details like exposed brick accent walls, pressed tin ceilings, exposed piping, and skylights on the top floor.> There are just two apartments on each level.> Utilities, including heating, are paid by tenants as each individual loft has their own boiler, and all are free-market-units, making this an excellent opportunity for rental income.> The total yearly income from the 8 lofts is $661,200.00.> The total operating expenses including taxes, water, electric, super, management and repairs are $189,222.00.> There is an additional 25-foot by 100-foot space in the basement which includes on-site laundry.> Keep in mind, steps 1 and 2 of a condo conversion have already been completed and the building is self-managed.> The superintendent collects rent from tenants and makes the deposit; he also conducts most of the repairs in the building for a nominal fee - making this an ideal investment opportunity for international buyers.> Additionally, the whole ground floor is a commercial unit with a footprint of 25-foot by 100-foot in the rapidly developing Essex Crossing, a Seward expansion project of 6 acres and 5 billion dollars.> The retail space generates an annual rent of $186,000.00 and expires in 9/30/2024.> The B/D express trains are one short block away, with Roosevelt Park right around the corner and all the attractions of the trendy Lower East Side just moments away.> The property value will only soar in this area in the near future.> This desirable investment property currently has a net operating income of $657,978.000. > Approx. 15600SF
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