Platinum Properties is proud to present 142 E 95th Street, a four unit multifamily building in fast developing East Flatbush. This is a tremendous value-add investment or an owner-occupied multifamily home., this well maintained building is 100% free market (Three 2BR's and one 1BR). Similar buildings nearby that have been renovated prove that a major increase in rent is possible with only modest renovations. Additional value adds include a potential rentable parking space, basement storage units and laundry.
Nearby train stations for the express 3 / 4 trains make the location very attractive for high price renters who commute to Manhattan. A strong retail community exists on Rutland and 95th. Lincoln Terrace Park is nearby.
Even greater capitalization potential exists due to the lot's coveted R6 zoning and unused FAR. This allows for an entirely new development to be built. An example of this approach was just completed across the street. The asset also holds the highly desirable 2A tax class, meaning the taxes cannot increase more than 8% per year and no more than 30% over 5 years
With demand for value-add housing stock at an all time high don't miss a chance for much improved cash flow opportunity. This is a great opportunity to expand a portfolio or the perfect place to start your empire with a high upside asset.
Reach out today for more details or to set up an online viewing.
Investment Highlights
Asking Price: $1,095,000
Current Cap Rate: 4.8
Pro Forma Cap Rate: 8.9
Units: 4
Price/Unit: $273,750
Price/SF: $342
Total GSF: 3,198
Tax Class: 2A
Zoning Residential FAR: R6
Total Buildable SF: 6073
Available Air Rights: 2874
Lot Size: 2,500 sq ft
Floors: 2
Address: 142 E 95th Street Brooklyn NY 11212
Location: East Flatbush
