This three-family townhouse is a perfect investment candidate

Bushwick is an up-and-coming neighborhood that attracts investors looking for great deals. Many apartments have been recently renovated and appeal to a dynamic tenant population.

For a while, Bushwick has been a destination for the most exciting murals, the coolest art galleries, and dining and entertainment options. The rents have been going up and held better in the pandemic than in Manhattan. The sale prices, while also climbing, remain lower compared to more established Williamsburg or DUMBO. The general consensus is that as gentrification continues, the prices will continue to outpace inflation. 

This three-family brick townhouse has a high return potential. At the listing price of  $1,395,000, it is the most affordable three-family home in Bushwick. The next similar property is listed at $1,695,000. It requires little work and has 2 qualified tenants already in place.

The house is set up as a 3-bedroom duplex with access to the garden and two floors through 3-bedroom apartments above. Once you become an owner, you can achieve over 6% return from rent, which is about 1.5% above the average borrowing cost.  

Bushwick is rapidly gaining popularity among New Yorkers pushed out of more pricey neighborhoods. The rising demand from tenants leads to higher rents and low vacancy rates. Bushwick is experiencing a renaissance and offers great investment opportunities with high return potential. 

Reach out for more details and come see this excellent property in person!