1637 Nostrand Ave, Brooklyn, NY 11226
- $890,000
- 12
- BD
- 6
- BA
- 5,400
- SqFt
- List Price
- $890,000
Property Description
Six-family brick walk-up in East Flatbush, half a block from the 2/5 train at Beverly Rd. All six units are 2BR/1BA, 100% occupied and rent-stabilized. $111,516 gross annual rent. $63,176 NOI. 6.66% cap rate and 8.5x GRM at $949,000 ($158,167 per unit). The top-floor unit is fully renovated: open kitchen with quartz island and stainless steel appliances. Updated boiler and two hot water heaters. Tax Class 2A, with assessment increases capped at 8% per year and 30% over 5 years. No Local Law 97, no Local Law 11 (FISP), no elevator. Built for an all-cash or low-leverage buyer who wants stable in-place cash flow on a long-term hold. Rent roll and expense statement available on request.
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Listing courtesy of Listing Agent: ELI ELIAHOU HALIVA (eli@ermcapitalgroup.com) from Listing Office: Compass.
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