550 East 88th Street

$1,059,000
Price
5
Beds
3
Baths
2,859 Sq. Ft.
$370 / Sq. Ft.
2,859
Sq. Ft.
$370
per Sq. Ft.

Description

This amazing solid brick, renovated and meticulously well maintained two family dwellings, located on a quiet block, near BJ's, countless convenient shops, L train and Bus stops. This gem offers a blend of all stainless steel appliances, new windows, new hot water heater, hard wood floorings throughout, granite countertops and some modern light fixtures. Top floor features large three bedrooms, massive Living room, eat-in kitchen, full bath and modern ceiling lights and lots of closets. Middle floor...This amazing solid brick, renovated and meticulously well maintained two family dwellings, located on a quiet block, near BJ's, countless convenient shops, L train and Bus stops. This gem offers a blend of all stainless steel appliances, new windows, new hot water heater, hard wood floorings throughout, granite countertops and some modern light fixtures. Top floor features large three bedrooms, massive Living room, eat-in kitchen, full bath and modern ceiling lights and lots of closets. Middle floor offers a front deck, huge two bedrooms, spacious living room, eat-in-kitchen, full bath, contemporary light fixtures and ample closets, also a brand new, walk-in and completely finished Lower level which has many spectacular features which includes two rooms, a brand new full bath, EIK & LR. Not to mention a built-in front garage plus a driveway, and a fully enclosed backyard for your private entertaining. EGI: $86,400; GE: $14,750; NOI: $71,650; Cap rate: 6.8%
A must see to believe! Please, do not disturb any of the tenants!
  1. Listed by Carl Andre • How to Sell Realty • 2 Spaces

Amenities

  • Top Floor
  • Deck
  • Stainless Steel Appliances
  • Driveway
  • Granite Kitchen Counter
  • Eat-in Kitchen
  • Garage
  • Private Outdoor Space
LISTING UPDATED: 12/13/2024 04:18 PM

Property Details for 550 East 88th Street

StatusActive
MLS ID487543
Days on Market32
Taxes$7,990 / year
Maintenance-
Min. Down Pymt-
Total Rooms13.0
Compass TypeMulti Family
MLS TypeResidential
Year Built1965
Lot Size2,158 SF / 22' x 100'
CountyKings County

Building

550 E 88th St

2 Units2 StoriesBuilt in 1965

Building Information for 550 East 88th Street

Stories2Residences2Year Built1965Building Size21.58' x 52'Building Sq. Ft2,244.32 SFLot Size2,158 SF / 22' x 100'Building Age-Building Type-

Property Information for 550 East 88th Street

Summary
Location and General Information
  • Block: 7966
  • Cross Street Name: Canarsie La
  • Cross Street Name: Farragut Rd
  • Zoning: R5B
  • Roof: Flat
  • Residential Features: Deck, Refrigerator, Stove
Parking
  • Parking Attributes: 2 Spaces
  • Parking Feature Single: Carport
Taxes and HOA Information
  • Financing: 1031 Exchange, Bank Mortgage, Cash
  • Tax Amount: 7990.0
  • Gross Expense: 14750.0
  • Gross Income: $86,400.00
  • Miscellaneous Expense: 500.0
  • Cap Rate: .07%
Property
Lot Information
  • Sq Ft Total: 2859
  • Yard: Back, Fenced - Full
  • Lot Number: 62
  • Lot Size Irregular YN: No
  • Lot Size Length: 100
  • Lot Size Width: 21
Utilities
  • Heat Delivery: Steam/Radiator
  • Heating Fuel: Gas
  • AC Units: 0
  • Hot Water: Gas
  • Utility Expense: 960.0
  • Fuel Expense: 2100.0
Interior and Exterior Features
Interior Features
  • Basement Amenities: Finished, Full, Separate Entrance, Walk-in
  • Baths Three Quarter: 0.0
  • Baths Total Level 1: 1
  • Baths Total Level: 1
  • Total Rooms: 13
  • Foundation Details: Poured Concrete
  • Flooring: Ceramic, Hardwood
  • Unit Count: 2
  • Building Amenities: NONE
  • Style: High Ranch
  • Construction Materials: Brick, Masonry
  • Electric: Circuit Breakers
  • Baths Total Level: 1
  • Beds Total Level: 2
  • Beds Total Level: 3
Exterior Features
  • Exterior: Brick
  • Handicap Access YNU: Unknown
Multi Family
Multi-Family Information
  • Building Footprint Sq Ft: 1144.0
  • Building Length: 52.0
  • Building Type: Attached
  • Building Width: 22.0
  • Rooms Total Level 1: 4
  • Rooms Total Level 2: 4
  • Rooms Total Level: 5
Unit 1
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0.0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 2
  • Unit Category: Apt
  • Unit Current Rent: 2300.0
  • Unit Features: Appliances Included, Heat Included, Oven/Range, RE Taxes, Refrigerator
  • Unit Floor: 2
  • Unit Rooms Total: 4
  • Unit Status: Month-to-Month
  • Unit Unit Type: 2 Bedrooms
Unit 2
  • Unit Baths Full: 1
  • Unit Baths Half: 0.0
  • Unit Baths Three Quarter: 0.0
  • Unit Baths Total: 1
  • Unit Bedrooms Total: 3
  • Unit Category: Apt
  • Unit Current Rent: 2700.0
  • Unit Features: Appliances Included,Heat Included,Oven/Range,RE Taxes,Refrigerator
  • Unit Floor: 3
  • Unit Rooms Total: 5
  • Unit Status: Month-to-Month
  • Unit Unit Type: 3 Bedrooms
Agent
Agent Information
  • Net Operating Income: 71650.0
Sale and Listing
  • Sale Type: Arm's Length
Rental
Rental Information
  • Insurance Expense: 1800.0
  • Owner Occupied: No

Property History for 550 East 88th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 550 East 88th Street

Taxable ValueLand$11,880Additions$27,900Total$39,780
Home Facts
Total Finished SqFt2,859 SqFtLot Size2,158 SqFtYear Built1965ZoningR5BAPN3079660062

Schools near 550 East 88th Street

This home is within Nyc Geog District #18 - Brooklyn.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - PK to 8
Rating
School
Distance
P.S. 114 Ryder Elementary School
PublicPK to 5

Is 68 Isaac Bildersee
Public6 to 8

It Takes A Village Academy
Public9 to 12

P.S. 66
PublicPK to 8

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.

Similar Homes

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550 East 88th Street is a multi-family home for sale in Canarsie. This property was listed for sale on November 19, 2024 by How to Sell Realty, it's currently listed at $1,059,000. This listing's school district is Nyc Geog District #18 - Brooklyn. Nearby schools include P.S. 114 Ryder Elementary School, Is 68 Isaac Bildersee and It Takes A Village Academy. 550 East 88th Street is a 5-bed, 3-bath, 2,859 sqft multi-family home built in 1965.

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 How to Sell Realty

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.