Property
| Ownership: | Multi-Family |
|---|---|
| Rooms: | 10 |
| Bedrooms: | Studio |
Financials
Price:$1,385,000
Real estate tax:$4,436
Listing Courtesy of The Corcoran Group
Exceptional Income Producing Two Family Home in East New York A unique opportunity to live, earn, and invest in a beautifully maintained legal two family brick home with an established ...
Description
Exceptional Income-Producing Two-Family Home in East New York
A unique opportunity to live, earn, and invest in a beautifully maintained legal two-family brick home with an established furnished rental operation.
Offering approximately 3,000 square feet of living space, the property combines a spacious owner-occupied garden level with income-producing upper floors configured with multiple private bedrooms. Since 2018, the current owner has successfully operated the furnished rental business with approximately $115K in gross annual income and a strong history of long-term professional tenants. The established rental performance provides immediate income potential, with additional upside for the next owner. Detailed financials, including historical and projected income, are available upon request.
The property has also benefited from substantial capital improvements, including a new roof with solar panels (2021), updated plumbing and electrical systems, a new boiler (2024), and new central heating and air conditioning (2025). The 12,000-watt solar panel system is designed to significantly offset electricity usage, while a solar tax abatement further contributes to remarkably low annual property taxes.
Additional Highlights
Whether you're seeking a turnkey income-producing investment or a home where rental income can help offset the cost of ownership, 354 Montauk Avenue offers a compelling combination of flexibility, established income, and long-term value.
A unique opportunity to live, earn, and invest in a beautifully maintained legal two-family brick home with an established furnished rental operation.
Offering approximately 3,000 square feet of living space, the property combines a spacious owner-occupied garden level with income-producing upper floors configured with multiple private bedrooms. Since 2018, the current owner has successfully operated the furnished rental business with approximately $115K in gross annual income and a strong history of long-term professional tenants. The established rental performance provides immediate income potential, with additional upside for the next owner. Detailed financials, including historical and projected income, are available upon request.
The property has also benefited from substantial capital improvements, including a new roof with solar panels (2021), updated plumbing and electrical systems, a new boiler (2024), and new central heating and air conditioning (2025). The 12,000-watt solar panel system is designed to significantly offset electricity usage, while a solar tax abatement further contributes to remarkably low annual property taxes.
Additional Highlights
- Legal two-family brick home
- Approx. 3,000 SF of living space
- Owner-occupied garden level with additional income potential
- Established furnished rental operation with approx. $115K gross annual income
- Private backyard
- Extensive recent capital improvements
- 12,000-watt solar panel system designed to significantly offset electricity usage
- Solar tax abatement contributing to low annual property taxes
- Ideal for investors or owner-occupants seeking to offset carrying costs with rental income
Whether you're seeking a turnkey income-producing investment or a home where rental income can help offset the cost of ownership, 354 Montauk Avenue offers a compelling combination of flexibility, established income, and long-term value.
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.
