Welcome to 519 49th Street in the heart of Sunset Park, this legal 8 family townhouse is a 6,960 square foot opportunity on a 30' x100' lot. This building features separate meters, updated boiler (2019), new roof (2016), renovated common areas (2018), and upgraded electrical (2016). The garden level opens it self up to your imagination, and can be converted to storage, coin operated laundry, or open common space with access to the back yard, perfect for enjoying in the warmer months. The parlor floor makes up the super's unit and a month to month rental unit. Each apartment has their own private entrance, kitchen and full bathroom. This extraordinary house boasts a great rent roll ($132,823.68 annual), fully occupied, and current tenants; this investment will be generating positive cash flow as soon as it is yours.
Tucked between Park Slope and Bay Ridge, Sunset Park is a bit of a hike from Manhattan and Downtown Brooklyn. Relative obscurity has kept rents low for decades, although that appears to be slowly changing as brownstone families are priced out of Park Slope and Carroll Gardens. A new wave is beginning here: Industry City, a cluster of 16 warehouses on cobblestone streets, now hosts Smorgasburg, The Brooklyn Flea, and Mister Sunday, a day dance party in the summer. The galleries, tech conferences, rooftop movie screenings, and countless artisan shops in that complex are slowly putting Sunset Park on the map for young people. 519 49th Street is a walkers paradise, with easy access to Manhattan via the D, N, R subway lines.
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