215 SCHAEFER Street, New York City, NY 11207 (MLS # RPLU-1032523179935)

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PRICE $1,750,000 BEDS 8 BATHS 3 HOME SIZE 4,286 sqft LOT SIZE 915 sqft Request More Info Schedule a Showing

Income-Producing 3-Family Investment Property with 5% Cap Rate - Prime Bushwick Location!

Presenting 215 Schaefer St - a income-producing property with a solid 5% cap rate.

This 19.5 100 property underwent a complete gut renovation in 2021 resulting on a new CofO, this building offers modern upgrades, energy efficiency, and strong rental potential. The bottom floor will be delivered VACANT providing an opportunity for owner-occupancy or increased rental income.

The first-floor unit is a newly renovated, ADA-compliant two-bedroom apartment featuring a private backyard and in-unit washer/dryer. The second-floor unit offers a spacious, updated three-bedroom layout, while the third floor boasts three bedrooms, two skylights, and a large terrace. Each residence showcases high ceilings, dishwashers, stainless steel appliances, hardwood floors, oversized windows, decorative fireplaces and exposed brick, blending modern and classic design elements seamlessly.

Key Features:

- Super High-Efficiency Boilers rated by National Grid, with integrated water heaters serving as combination heat and hot water units, ensuring optimal performance.

- ADA-Compliant Apartment (#1) with lower light switches, intercom panel, a wheelchair-accessible bathroom with a 4-foot turning radius, grab bars, and a special pedestal for assistance.

- Fireproof Building with concrete-poured staircases for enhanced safety.

- Equipped with an RPZ valve to separate domestic water from the sprinkler system, along with a high-capacity ventilation system in the basement to ensure fresh air circulation and prevent carbon monoxide issues.

- Hardwired Carbon Monoxide and Smoke Detectors connected to the circuit breaker panel, eliminating the need for battery replacements.

Tenants pay their own electricity and gas, including electric bills for their in-unit washing machines.

This property provides an unmatched combination of efficiency, safety, and modern living conveniences, making it a high-demand option for renters.

Situated in the heart of Bushwick, this property offers easy access to public transportation L/ J/Z trains, only 25 minutes to Manhattan plus multiple bus lines. Bushwick is known for its trendy cafes, restaurants, and a vibrant arts scene. With proximity to parks and shops, this sought-after neighborhood continues to attract high-demand renters, making it a solid long-term investment.