Description
Geo Real Estate Group has been exclusively retained to market 184 Schaefer St. Primely located in Bushwick within a short distance to the L train as well as multiple bus routes; this subject property is a fully leased rent stabilized building. The property is currently operating at a 7% cap rate with a net adjusted annual rent of $100,297. Annual expenses for current ownership are approximately $37,600 annually. A value add potential for long term new ownership exists via strategic vacancies and capital improvement. The building has an additional 1,100 sq. ft. of residual floor to area ratio presents a unique opportunity for investors looking to enter in a highly desirable submarket with a well performing asset.
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Neighborhood & Market Insights
This property is 47.3% below the current neighborhood median.
The schools block is active and ready for district, ratings, and assigned-school provider data.
175.1% modeled change across available points
- Principal and Interest
- Property Tax
- HOA fee
