House of the Day: 465 Prospect Avenue
Most houses that have been cut up into floor-through apartments suffer a little in the process and this three-family at 465 Prospect Avenue in the South Slope is no exception (for example, from what we can see, the stucco’d fireplace and the fire escape). Still, this 2,400-square-foot pad has managed to retain much of its…
Most houses that have been cut up into floor-through apartments suffer a little in the process and this three-family at 465 Prospect Avenue in the South Slope is no exception (for example, from what we can see, the stucco’d fireplace and the fire escape). Still, this 2,400-square-foot pad has managed to retain much of its original charm in the form of floors, moldings, bannister and skylight. Plus, from where we sit, the asking price of $750,000 provides a very adequate discount and leaves room for an ample renovation budget. Sound like a good deal to you?
465 Prospect Avenue [Corcoran] GMAP P*Shark
no, i would guess that location will always be a discount as long as the company is there (condos don’t seem too bad now, eh?)
so making it a cash flow property is probably best.
i’d guess a 3-fam, clean, very basic rental. What could you get, $6k in rent? That’s still over a 5.7% cash on cash return on a million bucks if you don’t pay income taxes and they hike the RE taxes to 15k. Who can chime in on the rent over there?
and why are they calling this Park Slope? Has the Slope now stretched out beyond Windsor Place?
I’m seriously asking, is this now a part of “South Slope?”
really worst building at the worst spot in the neighborhood, but it is listed at 40% off.
http://www.arrowlinen.com 7 days a week, 170 employees, 30 trucks. Trucks park at an enclosed lot down the street but i believe there is a building that connects through this row of 10 or so houses at the very end of the backyard. I have no idea how much that building back there affects backyard privacy.
But even the gruesome Howard street murder house (a prime “A” location) sold for 20% off, so won’t there be someone for this at 50% + off?
This does not look that good to me.
In fact it looks like a dump.