87-87 144th Street Briarwood, NY 11435

Facts

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Description

This is an REO, meaning this property has been foreclosed on because the owner couldn't meet their payments. The bank now owns this property. Most banks are not set up to own homes, and are often motivated to sell you the home at a discounted price.

8 family brick and block construction, Pre-cast stone/ Fireproof and non-combustible, fire sprinkled. Total 8 Units, built as condo but is rented as rentals. 7x1 bedrooms each 9" high ceiling, Unit 1b on the first Fl is a garden apt and is duplex with basement, and backyard, a fresh air space. Cellar has coin operated laundry 2 washer and 2 dryers, (Brand New) yet to be used.7 apartments have 1 bedroom each with 9" high ceilings, hardwood floors, bathrooms all tiled with stainless steel fixtures, expensive wood vanities. Balconies 1/2" thick laminated glass, Kitchen has stove, refrigerator, microwave, 42" high wood kitchen cabinets. Rent roll+ laundry income $700 projected= $213,800 a year. Annual Expenses: Insurance $2600 + Electric $500+ water $2200, garbage $1000 + property tax $10,000+misc $700 total expenses $17,100. Buyer pays 1/2 of the transfer tax. Proximity: Close to all, 8 min to JFK, 3 blocks to Van-Wyck, 6 mins walk to Air-Train. Subway is across the building, Near the Court House, shopping and much more.