571 New Lots Ave #1-6, Brooklyn, NY 11207

Great Condition - Own a 6 Family for the Price of a 2 Family! East New York - 6 Unit Rent Stabilized Investment Property. 2 Vacant Units. Low Taxes! This property has been well maintained by its current owner for over 37 years. Five (5) units are one bedroom apartments and the 6th unit is a studio. These apartments feature hardwood floors, overhead lighting, windowed kitchens, and large bathrooms. Fire rated doors and stairs. The entire building was gut renovated in 1992. Each apartment has its own separate gas and electric meters. The roof was refinished in 2022 and is in great condition. Gas boiler and hot water heater. Exterior brick building facade was pointed with stucco coated finish in the rear. Front and rear of building have lighted timers. Finished basement has a Super's suite, with an additional 2 rooms, plus 1/2 bathroom. Two points of egress to the back yard. Additional entrance to basement below the stoop. Conveniently located! Just one short block away from the 2, 3, and 4 train stations. BK 15 to JFK , BK 83 to L Train. Rent Roll: Apartment 1 Vacant Projected $1,000 Apartment 2 $950.00 Apartment 3 $950.00 Apartment 4 $950.00 Apartment 5 $950.00 Apartment 6 Vacant Projected $1,000 Total: $3,800.00 X 12 = $45,600 Projected from vacancies = $24,000 Total Rent Roll = $69,600 Expenses Insurance: $4,000 Taxes: $1,662 Water/Sewer: $3,502.49 Maintenance: $5,192.00 Electric/Gas - Common Areas $1,113.88 Gas Heat: $3,305.90 Total: $18,776.27 Net Operating Income = $50,823.73 Cap Rate: 5.09 Building Specs: Building class Five to Six Families (C2) Square feet: 4,296 Building dimensions: 22 ft x 76 ft Stories: 3 Roof height: 35 ft Year built: 1925 Structure type: Walk-up apartment Lot sqft: 2,224 Lot dimensions: 22 ft x 101.08 ft Ground elevation: 23 ft Residential units: 6 Residential sqft: 4,296 Average residential unit size: 716 Residential FAR: 1.25 Facility FAR: 2 FAR as built: 1.93 Allowed usable floor area: 2,780 Usable floor area as built: 4,292 Unused FAR:-1,512 Schedule an appointment today!