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1124 East 58th St, Brooklyn, NY 11234

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For Sale

$724,900

8 beds • 4 baths • 3,432 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $211.22
    Price per square foot

  • Over 50 Years Old
    Age

  • Basement
    Rooms

Explore this Property

Investment Opportunity - As Is Sale with Tenants in Occupancy - BRING ALL OFFERS! Prime Flatlands, Brooklyn fully-attached brick multi family property with significant upside potential for the savvy investor. Please see the Certificate of Occupancy photo. This AS-IS sale includes three occupied units, all currently below market rent, with two uncooperative tenants not paying any rent and one paying substantially below rental market value. Buyer assumes responsibility for all existing tenants and occupancy conditions. Interior access is very limited and not guaranteed prior to closing; Prospective buyers are encouraged to perform due diligence based on exterior inspection and available information. Please Note: The property has several deferred maintenance and compliance issues that the buyer will need to address after closing. The roof and boiler are both nearing or beyond their expected useful lives and may require replacement. The property also does not fully conform to its Certificate of Occupancy due to prior unpermitted alterations, including the removal of the garage, conversion of a two bedroom unit into a three bedroom, and an unpermitted semi finished basement. There is evidence of a rodent infestation that will also require remediation. Property is being sold strictly AS-IS, with tenants in place. CASH OFFERS are preferred due to very limited interior access, occupancy status, and condition issues. Buyer cannot finance via FHA loan. FHA will not approve this property. Bring your vision and unlock this property's long term potential. Flatlands fully-attached brick property w/ 3 units plus full semi-finished basement w/ separate entrance (total of 4 levels). Features 8 BRs & 4 BAs, private driveway, front porch, & backyard. 3,432 sqft (excluding the full semi-finished basement). Layout (4 levels): 3 BR / 1 BA apt over 2 BR / 1 BA apt over 3 BR / 1 BA apt over Full Semi-Finished basement setup as a 1 BR apt. This property currently has a total of 3 tenants. 3rd (Top) Floor: Tenant is uncooperative and not paying any rent. 2nd Floor: Tenant is paying rent $2,050/month, significantly below fair market value. 1st Floor: Tenant is uncooperative and not paying any rent. Basement: Vacant. Not occupied.
MLS# 11405163

Courtesy Of J BUZZ REAL ESTATE LLC

(718) 313-0203

Property Features

  • Age
    Over 50 Years Old
  • Appliances
    Refrigerator
  • Architecture Style
    Other
  • Exterior Type
    Brick
  • Floor Covering
    Hardwood, Tile
  • Heating System
    Steam
  • Rooms
    Basement, Kitchen, Living Room

Map and Directions

Directions to 1124 East 58th St, Brooklyn, NY 11234

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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