About 17-27 E 14th Street
Built in 1985 off King's highway within the Homecrest neighborhood of Brooklyn. Well maintained, sunny four family income producing duplex brick town house facing the eastern sunrise with a total of around 5,250 square feet. Each unit is around 1,312 sq ft with three bedrooms, one & a half bathrooms and their own washer dryer. One year leases with separate meters & utilities except water. Unit A rented for $2,600 per month + utilities. Unit B rented for $2,900 per month + utilities. Unit C rented for $3,050 per month + utilities. Owner's Unit D located on both the second and third floor to be delivered vacant upon closing. Yearly property taxes of $40,243.
Current yearly rental income: $102,600. Current yearly net income: $55k.
Proforma with full occupancy market rents: Potential yearly rental income $148,800.
Potential yearly net income: $98,800 @ 5% cap.
Significant income and value add opportunity as a neighboring nearly identical quadruplex townhome was converted to 8 family units!
(Conservative proforma with 8 total units fully renovated, split and occupied as 4 - two bedroom, one bathroom units of around 800 sq ft and 4 - one bedroom, one bathroom units around 500 sq ft)
Potential yearly income: $200K+
Potential yearly net income: around $140k+ @ 7% cap
Commuter, walker and food lover paradise next to B & Q subways (38 minutes to Manhattan Canal Street financial district!) B2, B7, B31, B49, B68, B82, B100 buses, Target, Marshalls, TJ Maxx, 7-11, family owned groceries and pharmacies, CVS, Sunflower cafe, Forefeathers chicken, Mabat, Bordeaux steakhouse, Argo, Look Deer, Jersey Shore Sushi, Edo, Meshuga, Tokyo, My Grill bar, Rondel, Vesuvius, J&R pizza, Family Uz Restobar, Village cafe, X Factory, Tacos Linos, Best Halal gyro, Affy's grill, Casa Maria's, Blueberry Mexican grill bakery, Gong Cha bubble tea, shopping mall, Harbor fitness, banks, shops, salons, spas, post office, Brooklyn public library and the newly renovated Kelly park playground.
Near world renowned Michelin approved Tanoreen, Neta Shari, Ayat, East Harbor Seafood Palace, Chuan Tian Xia restaurants, 530 acre Marine park, playgrounds, biking greenways, dog friendly areas, wifi spots, soccer, handball, tennis, skating, basketball, baseball, football, bocce, cricket, fitness equipment, hiking, canoeing, kayaking, paddleboating, model aircraft fields, great trees, salt marsh nature trail hosts 325 bird, 50 butterfly, 100 finfish species, unique regional flora, fauna, 18 hole Championship golf course, water views, country club quality greens, fairways, driving range, Aviator sports events center, Floyd Bennett camping field, Gerritson, Kiddie, Manhattan, Plum, Brighton & Coney Island beaches, boardwalk, marinas, fishing, Belt parkway, Verrazzano & Marine parkway bridges, hospitals, police and fire stations. 18 minute non rush hour drive to Manhattan, 20 mins to LaGuardia, 24 mins to JFK and 35 mins to Newark international airports!
Zoning R5B. Please do not disturb tenants.
