2 Beds
2 Baths
950 SqFt
2 Beds
2 Baths
950 SqFt
Key Details
Property Type Condo
Sub Type Condo
Listing Status Active
Purchase Type For Sale
Square Footage 950 sqft
Price per Sqft $1,678
Subdivision Boerum Hill
MLS Listing ID RLS20072634
Bedrooms 2
Full Baths 2
HOA Fees $918/mo
HOA Y/N Yes
Year Built 1900
Annual Tax Amount $9,384
Property Sub-Type Condo
Property Description
This legally combined residence is configured as a true 2-bedroom, 2-bathroom home offering approximately 950 square feet of interior living space with direct access to an approximately 1,123 square foot exclusive private garden- an increasingly scarce amenity that supports both tenant retention and long-term resale demand. Additional features include oversized private basement storage (the largest storage space in the building) and placement within an intimate 6-unit townhouse-style condominium with no doorman or amenity burden. In addition to in-unit laundry, there is also shared laundry in the basement.
The apartment is currently leased to long-term tenants at $6,250 per month through August 2028, generating $75,000 in annual gross income. Annual operating costs include approximately $11,011 in common charges, $9,386 in real estate taxes, and a $1,200 annual leasing/admin expense ($100/month), resulting in total annual expenses of approximately $21,598 and a net annual operating income of approximately $53,402.
At an asking price of $1,595,000, the asset represents an approximate 3.35% cap rate inclusive of all expenses. The extended lease term provides predictable income from day one and reduced near-term vacancy exposure, while condominium ownership offers straightforward long-term hold and future use flexibility at lease maturity.
For buyers seeking stable cash flow in a high-demand brownstone Brooklyn location, this offering presents a rare balance of income stability, operational simplicity, and long-term value.
The unit is renter-occupied through August of 2028. Please call for more specifics, or to set up a viewing.
Location
State NY
County Kings
Interior
Interior Features Eat-in Kitchen, High Ceilings, Storage
Heating Radiant
Flooring Hardwood
Furnishings Unfurnished
Fireplace No
Appliance Dryer, Dishwasher, Microwave, Stainless Steel Appliance(s), Washer
Laundry Building Inside, Common Area, In Unit
Exterior
Exterior Feature Building Storage, Building Garden, Garden, Private Outdoor Space Over 60 Sqft, Storage
View Y/N No
Porch Patio
Private Pool No
Building
Dwelling Type None
New Construction No
Others
Tax ID 00391-1102
Ownership Condominium
Monthly Total Fees $1, 700
Special Listing Condition Standard
Pets Allowed Building Yes, Yes
Virtual Tour https://my.matterport.com/show/?m=P7TTrqKQosm
