1200000 Budget, Looking for Multi-Family

buy 2 brownstones in bed stuy.  you’ll be happy in 20 years that you did.

Springs

in Brownstoner 12 years and 11 months ago

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michiganman | 12 years and 11 months ago

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Hi!  As an outsider I was hoping to acquire some information from the knowledgeable Brownstoner community.  Is it at all possible to find a multi-family home that is not in need of rennovation in Fort Greene/Clinton Hill/ Park Slope/ Carrol Gardens/ Cobble HIll with a budget of 1.2 million?   Thanks!

curiositykilledthecat | 12 years and 11 months ago

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Highly, highly doubtful or impossible.  If you find one, though, you should buy it. Good luck.

Skillman | 12 years and 11 months ago

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Maybe on the Clinton Hill/Bed Stuy border.  The rest of those neighborhoods you’ll need to double your budget at least

slopefarm | 12 years and 11 months ago

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Or, you could look for a small-ish 2-family woodframe in South Slope.

berniceshola | 12 years and 11 months ago

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Better odds in Crown Heights, Lefferts Gardens, Kensington or Sunset Park. $1.2M in the neighborhoods you mention will get you a gut reno or a very small one-family.

berniceshola | 12 years and 11 months ago

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You *might* find a multi-family in those neighborhoods in that price range, but it would likely come with either rent-control/legally protected tenants or serious structural/renovation issues.

Bond | 12 years and 11 months ago

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Or you could end up with something odd like the house on Dennett Place that Brooklyn Real had listed for 900K.  Little to no yard, completely renovated interior, but oh what a renovation.  The only thing missing is disco ball.

Boerumresident | 12 years and 11 months ago

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Do you mean a 2-3 family or are you talking about a real multi-family 6 or 8 flat type building? If the latter, I do not know. If the former, it will be tough to finds something like that. The listing for 188 West 9th Street calims it s a five-apartment building all of which are at market rate; very close to the F/G stop when it re-opens this winter. Also, 720 Sackett might fit the bill, or maybe 363 Carroll. But not a lot out there.

callalily | 12 years and 11 months ago

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You can buy a circa 1900 three family in perfect original condition on the Ridgewood/Bushwick border for half your budget.

bklyngr77 | 12 years and 11 months ago

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Stuyvesant heights!