Friday, January 28, 2011

Small & Pricey 2-Family: 374 Grand Avenue

Corcoran's at it again with pictures (making the most of that wide-angle lense), an address, a lay-out, a little write-up (including rental roll), and an open house this Sunday, January 30th so you can actually SEE the inside (which is a lot more that we can say for some places asking $1.4M+). 374 Grand Avenue is a 17' wide 2-Family on a nice residential block in Clinton Hill. Choice Market, here we come!!

While not quite our style, the interior looks totally renovated and at least stylish:

While the place is small, the set-up is interesting as a 4BR owner's triplex on top (presumably with access to the deck and yard) and the garden rental 1BR fetching $1,400/month. Seems to be making the most of the narrow space, but still too much for too little for this neighborhood in our book. The initial cash out-lay is pretty steep. If we're putting 20% down anyways, we'd rather go for something bigger, or get one of the fixer-upper's in this neighborhood and do the reno ourselves. We coulda swore 54 St. Felix was listed for $1.45M, and would make a WAY better purchase than this.

Pro's: renovated interior, neighborhoody feel, close to Choice, open house so you can go SEE it!

Con's: 20% down, pricey, paying a lot for somebody else's style, 17' wide

Ideally: cooler heads prevail.