739 Pennsylvania Avenue, Brooklyn (New Lots), NY, 11207 | $1,299,000
For sale for the first time in 41 years, seize this rare investment opportunity to invest in East New York, Brooklyn with the purchase of739 Pennsylvania Avenue, a (6) six-unit, rent-stabilized building. This impressive brick property spans 22. 5' x 70' on a generous 30' x 95' lot and provides immediate substantial returns and upside potential. For both seasoned investors and those looking to enter the real estate market, this is a standout addition to any real estate portfolio with maximum benefits from the area's ongoing development and revitalization projects.
739 Pennsylvania Avenue features a diverse mix of rent-stabilized units:
- (1) Studio Apt Occupied
- (4) Two-Bedroom Apts (3) Vacant
- (1) Three-Bedroom Apt Vacant
A finished basement adds valuable space, while the shared driveway and outdoor space enhance convenience and livability for tenants.
Neighborhood amenities include Linden Park and Playground, perfect for outdoor activities and relaxation. Nearby essentials include a laundromat, Self Storage facilities, Mobil and BP gas stations, and popular spots like Dunkin' and Bravo Supermarkets. The area also offers a range of beauty and grooming services, as well as automotive care. Excellent connectivity with the 3 Train at Pennsylvania Avenue Station and the B20 Bus, ensuring smooth commutes and accessibility.
739 Pennsylvania Avenue is a remarkable opportunity for investors looking to capitalize on a high-demand area with a blend of occupied and vacant units, ensuring both immediate revenue and growth potential in a strategic location. Don't miss out on owning this versatile and promising property!
Contact us today to schedule a viewing and explore the possibilities this property holds for your investment portfolio.
Features
- Town: Brooklyn
- Rooms: 19
- Bedrooms: 2
- Baths: 1 full
- Laundry: None
- Year Built: 1930
- Cooling: Unknown Type
- Building Access : Walk-up
- Service Level: None
- Built Size: 22'x70'
- OLR#: RPLU33423076904
- Days on Market: 96 days
- Website: https://www.raveis.com
/prop/RPLU33423076904/739pennsylvaniaavenue_brooklyn_ny?source=qrflyer
William Raveis Family of Services
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Customer Service
888.699.8876
Contact@raveis.com
Our family of companies offer our clients a new level of full-service real estate. We shall:
- Market your home to realize a quick sale at the best possible price
- Place up to 20+ photos of your home on our website, raveis.com, which receives over 1 billion hits per year
- Provide frequent communication and tracking reports showing the Internet views your home received on raveis.com
- Showcase your home on raveis.com with a larger and more prominent format
- Give you the full resources and strength of William Raveis Real Estate, Mortgage & Insurance and our cutting-edge technology
To learn more about our credentials, visit raveis.com today.
Sarah AlvarezVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1880936
347.223.0992
Sarah.Alvarez@Raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
739 Pennsylvania Avenue, Brooklyn (New Lots), NY, 11207
$1,299,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Sarah Alvarez
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
|
5/6 (30 Yr) Adjustable Rate Jumbo*
|
30 Year Fixed-Rate Jumbo
|
15 Year Fixed-Rate Jumbo
|
Loan Amount |
$1,039,200 |
$1,039,200 |
$1,039,200 |
Term |
360 months |
360 months |
180 months |
Initial Interest Rate** |
5.375% |
6.125% |
5.625% |
Interest Rate based on Index + Margin |
8.125% |
|
|
Annual Percentage Rate |
6.987% |
6.234% |
5.805% |
Monthly Tax Payment |
N/A |
N/A |
N/A |
H/O Insurance Payment |
$125 |
$125 |
$125 |
Initial Principal & Interest Pmt |
$5,819 |
$6,314 |
$8,560 |
Total Monthly Payment |
$5,944 |
$6,439 |
$8,685 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first
and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following
assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.