4 FAMILY VACANT SEMI DETACH W/ BACKYARD!
5889 54th street is a semi detach property in the most desirable location of Maspeth, Ridgewood and Bushwick borderline.
Close to schools, shopping areas, transportation and a line of chains restaurants.
Layout design with an adjacent stairway that gives access to the basement and the upper floor.
This classic semi detach 25 X 60 ft. 4 family property with its elegant architectural design as 2 story with basement is situated on a 25X100 ft lot. Including basement 4,500 Sq. Ft. Interior with 16 Rooms, 8 Bedrooms, 4 kitchens, and 4 full baths. Featuring approximately 1,000 Sq. Ft. Backyard.
Basement- Utility and Boiler room w/ excess to backyard, front and 1st floor. (Approximately 1500 Sq.Ft.)
1st Floor - Two Apartments, Railroad Style: each convertible two bedrooms. (Approximately 1500 Sq.Ft.)
2nd Floor - Two Apartments: Railroad style, each convertible two bedrooms. (Approximately 1500 Sq.Ft.)
4 family properties are well known as great investment due to low expense and high income generating as all apartments are free market rents.
Beside all, this property makes an exceptional deal as being, 4 family, semi detach and only 1 apartment needs renovation all other 3 apartments are in decent and rentable condition.
PROJECTED GROSS INCOME $110,000 NOI $95,133 CAP 8.96% at Asking Price.
