Multi Family, 332 GATES Avenue #, Bedford - Real Estate New York

Description

PACKAGE SALE OF 330 & 332 GATES.

$243K NOI CURRENT, $265K PRO FORMA.

330 & 332 Gates Avenue offers two spacious three-family townhouses spanning approximately 3,550 square feet each (7,100 SQFT total) on one of the most desirable blocks at the Clinton Hill/Bed-Stuy border. The 18' x 45' buildings are configured as four three-bedroom, one-bathroom floor-through units above two two-bedroom, one-and-a-half-bathroom parlor/basement duplex.

Impeccably maintained and fully rented, the properties generates over $266K in annual rental income with exceptionally low expenses, yielding a net income of approximately $243K. With a strong rent roll and significant upside potential, this is a secure investment opportunity. It also offers a fantastic option for an end-user looking to live in either of the duplexes while earning over $7,000 per month from the upper units (in each building). These buildings are perfect to create a massive single-family home, a larger development site, or an opportunity to acquire six totally unregulated apartments, update them, and increase the rents.

Ideally located near the G and C trains, the home provides easy access to Barclays Center, BAM, Pratt Institute, and Fort Greene Park. The neighborhood's vibrant dining and nightlife scene includes Speedy Romeo, Harts, The Fly, Bar Bolinas, Tepango, The Finch, and Roman's.

Listing courtesy of Douglas Elliman Real Estate ...
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