Numerous reasons make this multi-family property on the East Flatbush-Brownsville border, a great investment: Legal, four-family house for under $1 million, one block from the subway and Lincoln Terraces courts, fields and playgrounds? Keep going Three 2-bedroom apartments and one 1-bedroom unit plus a full length, finished basement with two of its own separate entrances. Even better!! Shared driveway and large backyard nice touch!
The asking price reflects the improvements needed to bring each unit to market rentability. Meanwhile, the property comes fully tenanted-- the current rent roll will cover your new mortgage! 1166 East New York Avenue makes sense now, and comes with huge potential and upside in the near future. Inventory and opportunities to own a four-family property are low heres your chance to do what others will wish in five years time, that they had done now!
With the recent unprecedented rate cut by the Federal Reserve, banks have been inundated with people looking to take advantage of lower interest rates. Because of the overwhelming demand, we have not yet seen a huge reduction in mortgage rates. While we aren’t there yet, it is likely that we will see a dramatic shift in the upcoming months, which raises the question, “What does a 1 point difference in interest rate do for my bottom line?”Read more