527 40th Street

Exceptional investment and owner-occupant opportunity in prime Sunset Park! This oversized 8-family brick building offers approximately 7,064 sqft of living space and features 8 three-bedroom apartments, including 2 currently vacant units that have recently been gut-renovated. Measuring approximately 25×75 feet on a 25×100-foot lot, the property offers 4 stories over a basement with a separate front entrance. Bright interiors, newly renovated living spaces in the vacant units, and a classic brick façade add to its appeal. Approximate annual income is $165,000, with potential to increase to $178,000, and current annual net operating income is approximately $94,000, offering an approximately 6% cap rate. With existing rental income, growth potential, and flexibility for an owner-occupant, this property is an opportunity you won’t want to miss. Won't Last!