Wednesday, June 19, 2013

Listings: 3-Family in Bed-Stuy - 796 Jefferson Avenue

When searching for that renovated 3-Family with original detail & character - plus rental income - in Brooklyn, Bed-Stuy is still some of the best value in town.  796 Jefferson Avenue is coming to the market with Fillmore asking $999K, and the look inside is solid...


Almost 20' wide & 50' deep, with 2BR rentals on each floor, making the most of the layout gets you good space.  We're told there's all new kitchens, baths, plumbing, electric, roof, water heater & boiler.

That's totally turnkey in our book, but over time we figure someone will grow into more floors of a place like this and max it out even further.  Living on the parlor floor with a deck and over $3K/month in rental income for under $350/sqft still beats a condo in our book.  Oh, and don't forget the yard...

Pro's:  renovated, original details intact, pricepoint, rental income potential

Con's:  further into Bed-Stuy towards Bushwick than the masses currently want to be

Ideally:  we had a great discussion with the owners and broker today about price, and we figured the market will tell the story

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