203 Kosciuszko Street is a renovated 3-Family rental building pretty north in Bed-Stuy closer to the G train. A cute brick bowfront on the outside built pretty full at 20' x 55', with floorplates chopped into as many as 3-4 bedrooms on each floor. The rentals are up in a few places and the building went up yesterday on HomeCanvasr.com for sale at $1.6M. Not long ago the house sold with Corcoran who hadn't even bothered with interior pics. Now we can clearly see they threw some fairly nice & serviceable kitchens together in the interior...
New floors, new windows, baseboard heat...
A gut reno on the generic side may not wow you, but as turnkey townhomes with rentable bedrooms go, this house is fairly maxed-out. Rentals are currently asking $2,250-$2,700. If this house can truly gross $8K/month, that certainly establishes a healthy value on it.
Around the corner from the park, and what listing in Bed-Stuy isn't "located near popular jaunts like Saraghina, Peaches, Black Swan..." ?? Whether you pronounce Kosciuszko like "kuh-SHOOS-ko" or "KASS-kee-AH-sko", this is a 3-Family that hundreds of Bed-Stuy buyers can actually afford. Sitting a price just under another renovated 2-Family like 174 Macon Street. By no means as fancy as the all-cash purchase at 96 Decatur Street, but in need of much less work. And we've seen off-market offers almost $2M for generic renovations on those blocks, and in addition to similar 3-Families trading off-market as high as $1.7M and as far north as Kosciuszko. Platinum Members are making off-market offers 20% higher than this for similar rental-style properties in slightly & much better locations from Fort Greene to East Harlem. So we'll see what the market has to say...
Pro's: curb appeal, turnkey & renovated, large floorplate, lots of bedrooms & income potential, can be delivered vacant or with any units rented, floorplans up in this!
Con's: no original details, not the exact corner of Bed-Stuy that everyone covets, recently traded much lower
Ideally: G train owner-occupant investment opportunity not on market with a big broker
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