Property Description

Welcome to 48 Crescent Street, a versatile income-producing property in the heart of Cypress Hills, offering established rental income, a spacious layout, and promising long-term potential across three thoughtfully utilized levels.The first-floor residence features 2 bedrooms and 2 full bathrooms and is currently rented for $3,027 per month, with a lease in place through July 2027.The second-floor residence offers 3 bedrooms and 1.5 bathrooms and is currently rented for $3,058 per month, with a lease through December 2026. The landlord's monthly portion is $2,709, while the tenant is responsible for gas and electric.Both occupied residences are city-administered rentals, providing consistent monthly income under the existing program and lease terms. With current rents below potential market value, the property may offer an opportunity for future rental growth following the expiration of the existing leases, subject to applicable regulations and program requirements.The lower level expands the property's versatility with a separate outside entrance. Currently vacant and used for storage, the space provides flexibility for recreation, a home office, additional storage, or other permitted uses.Conveniently located near the J train at the Cypress Hills station, the J and Z trains at the Crescent Street station, and multiple nearby bus routes, the property offers convenient connections throughout Brooklyn, Queens, and Manhattan.Enjoy close proximity to the shops, supermarkets, restaurants, and everyday conveniences found along Jamaica Avenue, along with the open green spaces, walking paths, and recreational opportunities of Highland Park and the Ridgewood Reservoir. Easy access to Atlantic Avenue and the Jackie Robinson Parkway further enhances the property's accessibility.Offering dependable rental income, a flexible three-level layout, and a well-connected Brooklyn location, 48 Crescent Street presents an excellent opportunity for an investor or future owner-occupant. Schedule your private showing today.

Property Features

Local Schools