A three-story, three family nestled across the street from Herbert Von King Park, 702 Lafayette is an incredibly rare opportunity to own in the heart of Bedford-Stuyvesant. The building is 20X46 with an 8 foot extension on the first floor. It features a renovated owner's duplex and two additional units. Perfect for a large family or home office right off the corner of Tompkins. Projected income of $104,400 a year and a cap rate of 5.70%. This building is perfect for 1031 exchange buyers.
Each recently renovated unit includes high ceilings, hardwood floors, plenty of natural light, living and dining rooms, 2 new bathrooms with sleek fixtures, and a new modern kitchen with tiled floors and stainless steel appliances. The second floor has 2 bedrooms, while the first and third floors each have 3. There is also an unfinished basement with . All the mechanicals, plumbing and electric are in great condition.
702 Lafayette is close to all the restaurants, cafes, bars, grocery stores, and shops that line Tompkins, Nostrand, and Dekalb Avenues. In addition to being across the street from Herbert Von King Park, the building is also just steps from several community playgrounds and gardens. Located 2 blocks away from the G train. Other nearby subway lines include the A/C/M/J/Z.
Income and expense sheet available upon request.
Also for sale is the attached 700 Lafayette Ave: https://streeteasy.com/sale/1369036