Property Description

Opportunity is knocking with this legal 8-family Tudor in the highly sought-after Auburndale neighborhood. This exceptional investment property features six spacious 1-bedroom apartments and two 2-bedroom, 2-bath duplex units, offering strong current income with additional upside potential.The building includes newer boilers and upgraded electrical systems, providing peace of mind for investors. Conveniently located near the Auburndale LIRR station, residents enjoy an easy commute to Manhattan and access to nearby amenities.With an estimated NOI of $135,615 and significant value-add opportunities, this property presents tremendous future potential. Investors may increase income by completing the basement space, where first-floor apartments could potentially be converted into legal duplex units, adding approximately 588 square feet to each apartment, subject to approvals and compliance with NYC zoning and building regulations. Additional basement space may also be utilized for common laundry facilities and tenant storage areas.The property also offers the possibility of conversion back into two 4-family buildings, subject to compliance with NYC zoning and building codes.A rare opportunity to acquire a high-income-producing property with immediate cash flow and long-term growth potential.

Property Features

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