North Williamsburg beautiful brick trophy building holds continued upside on ever growing and developing Billyburg.
Located on North 8th St and Bedford Ave and a mere stones throw away from the Bedford Ave L train, here is a chance to add a large income producer to your portfolio. 7550 SF of tastefully renovated living space. Amazing opportunity to live in Williamsburg’s prime Northside and collect substantial rent. This prime piece of property has two large buildings that offer endless possibilities. Property currently consists of 10 beautiful turn key market rent apartments. The large brick front house has 5 two bedroom and 3 one bedroom apartments and the private back house now consists of a four bedroom and a two bedroom apartment. Each apartment is renovated with exposed brick, hardwood floors and stainless steel appliances. One option would be to reconfigure the entire back house into huge private and serene owners quarters with yard and keep the front building as 8 income producing rentals.
With the increase in desirability of North Williamsburg and Greenpoint prices for both rentals and sales have risen dramatically while inventory has plummeted. This monstrous property offers immediate returns in a secure neighborhood surrounded by strong demographics. Capital improvements in the neighborhood are scheduled to take place in the near future making this building an opportunity rarely seen in this booming market.
