Brooklyn 7-Unit Multi-Family in Sunset Park

[Laura Moreno]

Hi there,

I am looking for a building in Brooklyn to buy so I can use one unit to live in and the others to rent out.

This is what I found today:

- Purchase Price: $1,350,000

- Units: 7 (5 two bedrooms / 2 Studios)

- Rental Gross Income: $94,500

- Expenses (inc. taxes, mortgage, insurance, $5k/yr for repairs and utilities): $31,000

Others:

- It is close to the subway and a beautiful park

- The area projected to go up in value

- Units rent <$1,000 per unit, which for New York is really low so I imagine I could increase the rent in the future

What do you think?

Thanks so much!

Laura