538 Graham Avenue

Greenpoint | Broome Street and Engert Avenue

SOLD
 
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Price:
$3,960,000
Type:
Real Estate Taxes:
Building
$11,017
Size:
7,838
Web ID:
Status:
79584
SOLD
 

Description

Located two short blocks from McCarren Park on the border of Williamsburg and Greenpoint, this 4 story multifamily brick building is centrally located with close proximity to the G and L trains as well as the Brooklyn Queens Expressway. Being on the corner of Graham and Engert Avenue, each of the 8 fully occupied residences get great light from the building’s three exposures. All of the 7 free market units have been recently renovated with new kitchens, updated bathrooms, and recessed lighting. The building was converted to gas 5 years ago at the same time that the boilers were replaced. There are 3 one-bedroom units, 4 two-bedroom units, and 1 three-bedroom unit on the top floor which is rent stabilized. As demand continues to climb in the Williamsburg-Greenpoint neighborhood, free market rents can be raised upon lease renewal to match the rapidly appreciating market. Showings by appointment only beginning Friday the 13th at 1pm! Financials: Expenses: Taxes $ 11, 017.52 Insurance $ 4, 984.00 Heating $ 5, 361.00 Electric $ 756.00 Water/Sewage $ 5, 800.00 Total Annual Expenses: $27,918 Total Annual Income: $190,752 Net Operating Income: $162,834^^^
Located two short blocks from McCarren Park on the border of Williamsburg and Greenpoint, this 4 story multifamily brick building is centrally located with close proximity to the G and L trains as well as the Brooklyn Queens Expressway. Being on the corner of Graham and Engert Avenue, each of the 8 fully occupied residences get great light from the building’s three exposures. All of the 7 free market units have been recently renovated with new kitchens, updated bathrooms, and recessed lighting. The building was converted to gas 5 years ago at the same time that the boilers were replaced. There are 3 one-bedroom units, 4 two-bedroom units, and 1 three-bedroom unit on the top floor which is rent stabilized. As demand continues to climb in the Williamsburg-Greenpoint neighborhood, free market rents can be raised upon lease renewal to match the rapidly appreciating market.

Showings by appointment only beginning Friday the 13th at 1pm!

Financials:

Expenses:
Taxes $ 11, 017.52
Insurance $ 4, 984.00
Heating $ 5, 361.00
Electric $ 756.00
Water/Sewage $ 5, 800.00

Total Annual Expenses: $27,918
Total Annual Income: $190,752
Net Operating Income: $162,834
Listing Content Provided By: Ilan Bracha
Dining Room
Dishwasher
Hardwood
High Ceilings
Eat In Kitchen
Park View
 

Listing Agents

Listing ID #79584
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Ilan Bracha Ilan Bracha Ilan Bracha (212) 707-8188
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Christian Bindel Christian Bindel Christian Bindel (510) 304-4009
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