![[Flatbush Real Estate, listing number 3351474]](https://www.vlshomes.com/images/full/3351474a.jpg)
| Description: 3351474 | |
| Suits Realty Investment Sales is proud to present 163 Veronica Place, an exceptional four-story, 8-unit residential apartment building in Flatbush, Brooklyn. Built in 2013 and meticulously maintained by its original owner, this ± 6,350 SF property features a robust masonry skeleton, in-demand building systems, and virtually no deferred maintenance. The building consists of 8 rent-stabilized units generating an immediate yearly rent roll of $212,328.00. Because tenants are responsible for their own heat, hot water, gas, and electricity utilities, the asset delivers strong, dependable cash flow from day one. Currently 100% occupied, the property offers an impressive clear path to a projected annual rent roll of $338,124 upon natural unit turnover. Crucially, the buildingâ??s 421-a tax abatement is set to expire in 2030, presenting a powerful future exit strategy or valueadd opportunity. Upon expiration, a new owner will have the legal flexibility to convert the building into a luxury condominium or transition the units to full, unregulated freemarket rent levels. Perfectly positioned between Tilden Avenue and Beverley Road, residents enjoy effortless commuting via the 2/5 train at Church Avenue and Beverley Road. Furthermore, the property sits just minutes away from Prospect Park, granting tenants immediate access to 526 acres of premier recreational space. | |
Details: |
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| Families: | 8 | |
| Property Type: | Multi-Family | |
| Built: | 2013 | |
Financials: |
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| Price: | $3,900,000 | |
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