Thursday, May 26, 2011

Value Potential in Clinton Hill: 118 Washington Avenue

Just north of Myrtle, around the corner from the mixed-use building that was our last pick, comes a real listing from Corcoran. While 118 Washington Avenue might be smaller and have less units & less income potential than its slightly pricier neighbors 193 Washington and 204 Washington, at least you know it's a real listing that's poised to sell. And at a price not that much higher than the distressed 3-Family 146 Washington, this 16' wide 2-Family might just be worth a go.

Pro's: totally turn key, owners duplex, condo alternative, below 2-Family FHA loan limit, Myrtle Avenue has lots to offer

Con's: 16' wide, only a 2-Family, a hike to a city train, might be more value in Bed-Stuy

Ideally: owner's sitting on lots of equity, and you know the listing's real, so if the distance isn't a deal-breaker, there's value here.

1 comment: