3022 Brighton 8th Street
Brooklyn, NY 11235
Cross street:Ocean View Avenue

Building

Type:Low-rise
Era:Post-war
Floors:3

Property

Ownership: income-property
Rooms: 13
Bedrooms: 10 BR
Bathrooms: 6
Pets: Pets Unknown

Financials

Price:$2,199,000
578 Driggs Avenue Brooklyn, NY 11211
Listing Courtesy of Revived Residential

This well maintained building in the vibrant Brighton Beach neighborhood of Brooklyn offers a variety of unit types, providing a steady rental income stream.

Description

This well-maintained building in the vibrant Brighton Beach neighborhood of Brooklyn offers a variety of unit types, providing a steady rental income stream. The property includes 8 Single Room Occupancy (SRO) units, 2 private rooms, 1 studio, and 1 two-bedroom apartment. The units generate a total monthly rent of $21,122 and a gross yearly rent roll of $253,464, with a net income of $200,200. Expenses include heat ($8,500), electric ($4,800), water/sewer ($4,800), insurance ($10,000), taxes ($15,000), and repairs ($7,000), for total annual expenses of $50,100. The building features a new roof with solar panels, new plumbing, updated electrical systems and tile throughout. The water heater and boiler are 3 years old. With a cap rate of 9.1%, this property offers a steady cash flow appealing to investors. It's conveniently located near local amenities, transportation, and the Brighton Beach community.

Amenities

  • Voice Intercom

Neighborhood

More listings:

OLR IDX

RLS Data display by Nest Seekers LLC.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.