402 Franklin Ave

Brand new 3 family in Bed Stuy/Clinton Hill! Continue reading

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Back on the market!
Work completed and brand new 3 family certificate of occupancy approved.
Located on the border of Clinton Hill and Bedford Stuyvesant, 402 Franklin Avenue is as as appealing for owner users as to investors alike.
This four story, 16.67ft x 43.16 ft, three un it brownstone sits on a 95ft long lot and was gut renovated in 2012 wi th new plumbing, electric, roof, structural reinforcement and mechanical upgrades, leaving all the heavy lifting finished for t he new owner.
The two bedroom, 1.5 bath garden parlor duplex features a large and private backyard, decorative fireplaces, exposed brick walls and king size bedrooms. The basement level although undone can be finished for a recreational room or office space with plumbing ready to add another half bathroom
The top two rental one bedroom units were more recently renovated this year with bleached oak floors, new quartz countertops, subway tiles and stainless steel appliances. Shared access to a recently re-inforced roof will give the tenants apartments the most sought after of amenities: private outdoor space. Vacant and ready to be leased, they will produce a projected income of $5,000 a month, easily covering most of the mortgage expenses. < br>
For investors, this high income, low maintenance property has a total projected rent roll of $9,500 a month providing a solid investment in a still growing market with plenty of upside.
For condo developers, 402 Franklin Ave has an allowed usable area of 4,749 square feet. With several comparable condo conversions in the immediate area already selling as high as $1,100 per foot , this property presents an excellent return opp ortunity (even if none of the remaining air rights are utilized!).

Property taxes don’t reflect new building classification as a 3 family. Projected taxes will be $5,750 approximately.

495 Rutland Road, #2

Best condo buy in South Brooklyn Continue reading

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Spanning a comfortable 972 square feet this pristine three bedroom, two full bathroom floor through apartment, overlooks Wingate Park, has incredible southern and northern exposures and is located in a recently converted, boutique, 3 unit CONDO building at the nexus of the Prospect Lefferts Gardens and Crown Heights neighborhoods.
This home features an open kitchen with stainless steel appliances, quartz countertops, hardwood floors throughout, and a washer/dryer in the unit. Individually controlled central HVAC system in the apartment. Two full bathrooms with soaking tubs, spa-like features and marble tile. Large balcony off the master bedroom and excellent closet space.
495 Rutland Road is ground up new construction 3 unit boutique condominium. Conveniently located across from Wingate Park, which has a playground, running track, handball courts and more. Transportation is easy as you have the 2 and 5 stops at the Winthrop or Sterling Street stops. Great shops, coffee bars, restaurants and bakeries only a few blocks away on Nostrand Avenue.
The apartment is priced to sell and is a tremendous value buy for the prudent buyer. You won’t see one of these again!
5% down OK and possible closing cost credit incentives available for primary residence buyers.
The complete offering terms for 495 Rutland Road are in an offering plan available from the sponsor. File # CD-17-0254