93 16th Street

This thoughtfully laid-out and well-constructed building was built from the ground up in 2003, and provides an excellent opportunity for either an investor, with an attractive 5% cap rate, or for an owner looking for a profitable live/invest option. The all brick building features three separate units, each with their own exterior entrance, in-unit W/D, and outdoor spaces to attract good rental income, as well as separate boilers, hot water heaters, and gas and electrical meters, to keep overhead extremely low. On the first floor, a 1200 sqft two bedroom, one and a half bath apartment makes an ideal owner's duplex to enjoy while still benefiting from approximately $5000 in rental income from the two floor-through, two bed, one bath apartments above. Or rent this unit as well for an additional $3500, and a total monthly rent roll of $8500. The duplex includes a 300 sqft rec room with a half bath and excellent closet space, that could be used as a master bedroom suite, playroom, or den. This apartment also features direct access to both the backyard and additional basement storage and laundry, which could be designated as private spaces for the duplex apartment's sole use. Alternatively, as the basement can also be directly accessed from its own entrance at the front of the building, both the basement storage and backyard (which can also be accessed from the basement) could be made either fully or partially common for all units. Every apartment features mint condition hardwood floors, dimmer controlled recessed lighting, an attractive bay window in the living room, Anderson windows and doors throughout and great closet space. The location on 16th Street just off booming 4th Avenue, is only one block from the subway, with a new supermarket coming to the corner as a part of the new residential building going up. Neighborhood favorites such as A&E Supply, Lowlands, Surfish, Black Horse Pub, Sidecar, Prospect Grill, Jake's Handcrafted, Buttermilk, Sandy's Cafe and Le French Tart are all within a two block radius, making this a lovely place to live, and with all the new construction taking place, an excellent place to invest!