459 9th Street

Brooklyn, NY 11215

Excellent investment opportunity in the heart of Park Slope. Own a 4-unit income producing property in this thriving neighborhood at a competitive purchase price and price per square foot. Lock into a steady income stream with capital appreciation potential before interest rates rise further. Listed rents on 1 BR rental apartments in Park Slope have increased over 20% in the past year. Given the scarcity of rental inventory and continued high demand, further increases in monthly rental rates are forecasted for the foreseeable future. This is a great time to capitalize on rising property values and rental demand.

As currently configured, the property is perfectly suited for an investor or end-user looking to live in one of the units and rent the remaining units at a low net carrying cost. With tenants in place and existing cash flow, the building is well suited for buyers choosing to finance their purchase. For those looking to convert the building into a one or two-family home or further develop it into separate condo units, this property provides ample room for a renovation budget at the current offering price.

This multi-family townhome comprises four spacious, well laid-out apartments, including: a garden level 1 BR duplex with basement rec room and fully landscaped garden on the ground floor, a 1-BR apartment on the parlor floor, and two 2- BR apartments (or 1BR plus home office) on the third and top floors respectively. The building has been well maintained with recent updates including: restoration and painting of the rear fire escape, newly painted roof, re-plastering and painting of the common hallways and refinishing of the vestibule door. Each unit has also been updated over the past five years with new/upgraded appliances and bathroom fixtures. Three of the units include a dishwasher. The apartments have south-facing living rooms with ample natural light, original parquet and wide plank wood floors, exposed brick, and decorative mantlepieces.

Located in Park Slope's Historic District on tree-lined 9th Street among a diverse mix of classically inspired and architecturally significant townhomes, this well cared-for home combines a traditional neighborhood aesthetic with all the conveniences that make the neighborhood so immensely desirable; among its many benefits: easy access to transportation ( 1/2 block to the F/G line at 7th Avenue), Prospect Park just 1 block away, and extensive shopping and restaurants all located within a few blocks in every direction. Additionally, given its three-block proximity to New York Presbyterian Brooklyn Methodist Hospital, the property is immensely attractive to hospital staff desiring live/work convenience.

Heat and hot water for the units are currently paid by landlord. Separately metered for electricity and gas. Currently units are occupied with leases terminating between Feb 2023 and May 2023, and alternative buyer tenancy preferences are negotiable.

Showings are by appointment ONLY. Building set-up available upon request. Contact listing agents for all.