OOC - OTHER NY - ID: 20222827
On the Market
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Property Type: 4 Family
Description: This Sunset Park 4-family, with easy potential for another unit, is actually two buildings separated by a common garden/yard area. Both buildings are in very good condition with mostly new mechanicals. A really solid investment with a 5 per cent cap rate, as rents in the city just keep rising and rising, or perhaps a development site, with use of air rights and the space between both buildings. (The downstairs unit in the back building merely needs the addition of a stove to make it a legal apartment.) Current leases are six-month leases. Opportunity is knocking here. R6B districts are often traditional row house districts, designed to preserve the scale and harmonious streetscape of the neighborhoods developed during the 19th century with four-story attached buildings. Many of these houses are set back from the street by stoops or small front yards. . The floor area ratio is 2.0 and the mandatory Quality Housing regulations also accommodate apartment buildings at a similar four- to five-story scale. The base height of a new building before setback must be between 30 and 40 feet; the maximum building height is 50 feet. To maintain the traditional streetscape, curb cuts are prohibited on lots narrower than 40 feet. The front line wall of a new building, on any lot up to 50 feet wide, must be as deep as one adjacent street wall but no deeper than the other. Off-street parking is not allowed in front of a building and the area between the front wall and the street line must be landscaped. Parking is required for 50% of a building's dwelling units, or waived if five or fewer spaces are required. FEATURES: NUMBER OF UNITS: 4
UNIT 1 -RENT: 2150 ZONE: C3 LOT DIMENSIONS: 0.11 Acres UNIT 2 -RENT: 2000 UNIT 3 -RENT: 2000 UNIT 4 -RENT: 2100 |
Listing courtesy of: Corcoran Country Living / Listing Agent: Lawrence O'Toole
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This page is to be linked to only from VetereRealEstate.com