MultiFamily Property at 22 Patchen Avenue Listed by CRG Advisors

Asset CRG Advisors, LLC, has been exclusively retained to market 22 Patchen Ave, a fully renovated multifamily building located in the Bedford-Stuyvesant neighborhood of Brooklyn.  

Property underwent substantial rehabilitation and ownership can provide supporting documentation.  The property consists of approximately 3,600 built square feet and is currently configured with 7 residential units, including six onebedroom apartments and one two-bedroom apartment with a private backyard and a cellar. The building is separately metered for heat and electric and benefits from Protected Tax Class 2B status, limiting future tax increases. 

The property is currently vacant and was recently completed, presenting an opportunity for immediate lease-up. Upon full occupancy, the asset is projected to generate approximately $248,400 in gross annual income and $207,035 in net operating income, offering strong cash flow potential for investors seeking a turnkey multifamily asset.