Four-family home in Brooklyn with an above-average rental return

by Verus Real Estate

The rising mortgage rates, high inflation, and recession raise concerns among homebuyers. A growing number of investors are wondering whether it is a good time to buy real estate. Although the high interest rates might threaten to sideline some buyers, real estate remains a safe haven for those who want to make a low-risk investment.

Multi-family properties in fast-growing neighborhoods, such as Bed-Stuy, East Williamsburg, or Bushwick offer exciting opportunities to investors looking to diversify their portfolio and generate stable income. The recent market report from Miller Samuel showed that the median rental price in Brooklyn continued to trend upwards in August, while rents in Manhattan and Queens fell from the previous month.

This four-family home in Stuyvesant Heights offers an attractive investment opportunity. The property has four floor-through apartments, one with access to the garden. The house comes with a fully finished 900 square-feet basement, which includes a wet bar, a bathroom, and a fireplace, all of which need updating.

The upper-level rentals have two bedrooms and one bathroom each. Large windows and charming original details, including fireplace mantels, carved moldings, and decorative panels, create a welcoming atmosphere in every room and allow to restore the house to the original splendor.