482 WARREN STREET
For Sale
Best Offer
The best deal in Boerum Hill! Kindly click this link to view comparable sold listings in the past 12 months and compare the value you are getting to these sold listings. You are looking at one of the best deals offered on the market with a Cap rate of approximately 5.5%. An existing high income as is with potential for even higher income depending on your investment plans.
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This property also still has up to 1700 sqft of allowable additions which could be built and can instantly add another 2.0 Million in value.
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NO MANSION TAX! Home registered as four-family unit but used as a three-family. You save 1% at closing
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Current Real Estate Taxes: $1,380/month and could be lowered post purchase by registering the building as a three- family home.
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INCOME
$180K per year if you were to rent the whole building including the furnished duplex and furnished top floor apt. $100K per year if you choose to live in the duplex and keep the other two units rented as they are today ( One rented furnished and one unfurnished )
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EXPENSE
Gas $1,884 per year monthly $157
Electric $1,352 per year monthly $112
Water $1,147 per year monthly $95
Insurance $2,456 per Year monthly $204
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Total $6,839 per year monthly $569
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Taxes. $16,560 per year. monthly $1,380
The Duplex
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This is pretty much a Brooklyn dream come true. tons of space, bright, and airy, yet cozy in the winter. A huge backyard with a built deck for outdoor play, lounging, eating and BBQ. Plenty of storage and an extra unfinished basement that would add square footage to the property if finished. Tons of potential to even build out if you wish. You are going to love living in this home. Currently rented furnished at $9250 per month. with an average of $96K per year in rental Income from that unit alone.
The Rentals
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Two freshly renovated and furnished, two bedrooms, one bath spacious units that are rented furnished at market value and making an average of $11000/ per month combined. $132k per year.
Living at 482 Warren St.
Is exceptional. It honestly does not get any more convenient than 482 Warren Street. One quiet block with no through traffic. 11 subway lines within a walking distance. Street parking. Best and most convenient super markets within blocks. Trendy shops, restaurants, bars and cafes. Brooklyn’s best attractions all within a couple of miles distance.
And of course the quintessentially cool Brooklynites of all ages who make Boerum Hill, Boerum Hill.
Let us just tell you that we lived in NYC for 20+ years. Soho, Midtown, Noho, Chelsea, LIC, Astoria, Williamsburg, and so far Boerum Hill was the best place to live by a landslide in so many ways.