1950 Nostrand Avenue

1950 Nostrand Ave
Flatbush

$3,200,000
Price
—
Beds
24
Baths
18,000 Sq. Ft.
$178 / Sq. Ft.
18,000
Sq. Ft.
$178
per Sq. Ft.

Description

This is an extraordinary opportunity for an investor to add a turnkey and cash-flowing asset to their real estate portfolio. This solid and stately building is ideally situated and benefits from its prime location on the Nostrand Avenue corridor business district. The Foster Arms Building offers an excellent opportunity to own an income-producing property with very low maintenance. The subject property is a four (4) story brick construction walk-up building situated on one (1) parcel: 59.75X100 lot...This is an extraordinary opportunity for an investor to add a turnkey and cash-flowing asset to their real estate portfolio. This solid and stately building is ideally situated and benefits from its prime location on the Nostrand Avenue corridor business district. The Foster Arms Building offers an excellent opportunity to own an income-producing property with very low maintenance. The subject property is a four (4) story brick construction walk-up building situated on one (1) parcel: 59.75X100 lot size (5,975 SF). The gross building area is 18,000 sf and is comprised of twenty-four (24) rent-stabilized residential units. The building's legal description is Section 16, Block 5231, Lot 34, and Building Classification C1. The building is on the northeast side of Nostrand Avenue between Foster and Farragut Avenue. The building is 100% occupied and leased to twenty-four (24) residential tenants. Each tenant is responsible for their utilities, which include electric and cooking gas charges. The building is well-maintained and has undergone recent interior renovations. The building is well-maintained and has undergone recent interior renovations: The building is well-maintained and has undergone recent interior renovations
  1. Listed by Lamar M. Collins • Vanguard R E Brokerage Group

Amenities

  • Walk Up
  • Voice Intercom
  • Private Outdoor Space
  • Parking Included
  • Lowrise
LISTING UPDATED: 12/11/2024 04:17 PM

Property Details for 1950 Nostrand Avenue

StatusActive
MLS ID480739
Days on Market276
Taxes$91,476 / year
Maintenance-
Min. Down Pymt-
Total Rooms0.0
Compass TypeTownhouse
MLS TypeResidential
Year Built1931
Lot Size5,975 SF / 60' x 100'
CountyKings County

Building

1950 Nostrand Ave

24 Units4 StoriesBuilt in 1931

Building Information for 1950 Nostrand Avenue

Stories4Residences24Year Built1931Building Size59.75' x 83.33'Building Sq. Ft19,915.87 SFLot Size5,975 SF / 60' x 100'Building Age-Building Type-

Property Information for 1950 Nostrand Avenue

Summary
Location and General Information
  • Block: 5231
  • Cross Street Name: Foster Ave
  • Cross Street Name: Farragut Rd
  • Zoning: R7A
  • Roof: Asphalt/Tar
  • Residential Features: Stove
Parking
  • Parking Attributes: None
  • Parking Feature Single: None
Taxes and HOA Information
  • Financing: Bank Mortgage, Cash
  • Tax Amount: 91476.0
  • Gross Expense: 207516.0
  • Gross Income: $332,895.00
  • Cap Rate: .04%
Property
Lot Information
  • Lot Dimensions: 5975
  • Sq Ft Total: 18000
  • Yard: Back
  • Lot Number: 34
  • Lot Size Irregular YN: No
  • Lot Size Length: 100
  • Lot Size Width: 60
Utilities
  • Heat Delivery: Steam/Radiator
  • Heating Fuel: Oil
  • AC Units: 0
  • Hot Water: Oil
  • Utility Expense: 5053.0
  • Fuel Expense: 27000.0
Interior and Exterior Features
Interior Features
  • Basement Amenities: Cellar
  • Baths Three Quarter: 0.0
  • Foundation Details: Block
  • Flooring: Hardwood
  • Unit Count: 24
  • Building Amenities: Resident Superintendent
  • Construction Materials: Masonry
  • Electric: 200 Amp
Exterior Features
  • Exterior: Brick
  • Handicap Access YNU: No
Multi Family
Multi-Family Information
  • Building Footprint Sq Ft: 4979.0
  • Building Length: 83.33
  • Building Type: Attached
  • Building Width: 59.75
Unit 1
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0.0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 1
  • Unit Category: Apt
  • Unit Current Rent: 1086.0
  • Unit Floor: 1A
  • Unit Rooms Total: 3
  • Unit Status: Leased
  • Unit Unit Type: 1 Bedroom
Unit 2
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0.0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 1
  • Unit Category: Apt
  • Unit Current Rent: 1050.0
  • Unit Floor: 2A
  • Unit Rooms Total: 1
  • Unit Status: Leased
  • Unit Unit Type: Studio
Unit 3
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 1
  • Unit Category: Apt
  • Unit Current Rent: 888.0
  • Unit Floor: 3A
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 1 Bedroom
Unit 4
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 1
  • Unit Category: Apt
  • Unit Current Rent: 1050.0
  • Unit Floor: 4A
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: Studio
Unit 5
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 1
  • Unit Category: Apt
  • Unit Current Rent: 1084.0
  • Unit Floor: 5A
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 1 Bedroom
Unit 6
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 1
  • Unit Category: Apt
  • Unit Current Rent: 1033.0
  • Unit Floor: 6A
  • Unit Occupant: 1
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 1 Bedroom
Unit 7
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 1
  • Unit Category: Apt
  • Unit Current Rent: 1194.0
  • Unit Floor: 1B
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 1 Bedroom
Unit 8
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 1
  • Unit Category: Apt
  • Unit Current Rent: 575.0
  • Unit Floor: 2B
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 1 Bedroom
Unit 9
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 2
  • Unit Category: Apt
  • Unit Current Rent: 1530.0
  • Unit Floor: 3B
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 2 Bedrooms
Unit 10
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 2
  • Unit Category: Apt
  • Unit Current Rent: 1350.0
  • Unit Floor: 4B
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 2 Bedrooms
Unit 11
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 1
  • Unit Category: Apt
  • Unit Current Rent: 1138.0
  • Unit Floor: 5B
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 1 Bedroom
Unit 12
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 1
  • Unit Category: Apt
  • Unit Current Rent: 1200.0
  • Unit Floor: 6B
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 1 Bedroom
Unit 13
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 1
  • Unit Category: Apt
  • Unit Current Rent: 1069.0
  • Unit Floor: 1C
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 1 Bedroom
Unit 14
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 1
  • Unit Category: Apt
  • Unit Current Rent: 1568.0
  • Unit Floor: 2C
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 1 Bedroom
Unit 15
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 2
  • Unit Category: Apt
  • Unit Current Rent: 1064.0
  • Unit Floor: 3C
  • Unit Rooms Total: true
  • Unit Status: Leased
  • Unit Unit Type: 2 Bedrooms
Agent
Agent Information
  • Net Operating Income: 115392.0
Sale and Listing
  • Sale Type: Arm's Length
Rental
Rental Information
  • Insurance Expense: 22685.0
  • Owner Occupied: No

Property History for 1950 Nostrand Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 1950 Nostrand Avenue

This home is within Nyc Geog District #22 - Brooklyn.
Rating
School
Type
Grades
Distance
P.S. 361 East Flatbush Early Childhood School
Public - PK to 5
Jhs 278 Marine Park
Public - 6 to 8
Midwood High School
Public - 9 to 12
P.S. 269 Nostrand
Public - PK to 5
Rating
School
Distance
P.S. 361 East Flatbush Early Childhood School
PublicPK to 5

Jhs 278 Marine Park
Public6 to 8

Midwood High School
Public9 to 12

P.S. 269 Nostrand
PublicPK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1950 Nostrand Avenue, Flatbush

1950 Nostrand Avenue is a townhouse for sale in Flatbush. This property was listed for sale on March 21, 2024 by Vanguard R E Brokerage Group, it's currently listed at $3,200,000. This listing's school district is Nyc Geog District #22 - Brooklyn. Nearby schools include P.S. 361 East Flatbush Early Childhood School, Jhs 278 Marine Park and Midwood High School. 1950 Nostrand Avenue is a 0-bed, 24-bath, 18,000 sqft townhouse built in 1931.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Vanguard R E Brokerage Group

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., All rights reserved. The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use. The data relating to real estate for sale on this website comes in part from the IDX Program of OneKey® MLS. Information Copyright 2024, OneKey® MLS. All data is deemed reliable but is not guaranteed accurate by Compass. See Terms of Service for additional restrictions. Compass · Tel: 212-913-9058 · New York, NY Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York’s Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., all rights reserved. This information is not guaranteed, should be independently verified and may not reflect all real estate activity in the market. Offers of compensation set forth here are for other RLSParticipants only and may not reflect other agreements between a consumer and their broker.©2024 The Real Estate Board of New York, Inc., All rights reserved.