Property Details
Property Type: Single Family House
Neighborhood: East New York
Street: New Jersey Avenue
Location: bet: Hegeman Ave & New Lots Ave
City: Brooklyn
State: NY
Zip: 11208
Agent:
Phone:
Status: Available
Square Feet: 1,660
Bedrooms: 4
Bathrooms: 3
Listing Features: Short Sale Eligible, Handy Man Special, Ideal for 1st Time Investor, Motivated Seller,
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Property Description and Appointment Request Form
Here is a vacant single family townhouse on New Jersey Avenue in East New York, Brooklyn, just 2 blocks from the Pennsylvania Ave stop on the 3 train.
The foreclosures in Brooklyn have produced numerous opportunities for enterprising real estate investors interested in distressed property sales.
Here is one such opportunity I’ve been empowered by the owner to offer well below market value. This house is for sale to ALL CASH BUYERS below market value in a short sale requiring lender approval.
Few properties offer as much upside in flip value, as the majority of properties sold in the neighborhood similar to this home average a sales price of $325,000.
Astute investors familiar with the East New York neighborhood in Brooklyn will find this location ideal for an all cash purchase because its 15 minutes away from Gateway Mall, in walking distance of Public School 13 and just 40 minutes from lower Manhattan by subway.
While the property requires significant renovation, an all cash price by an investor will more than realize the opportunity this location offers.
Requirements for All Cash Investors:
All parties interested in bidding on this property must meet the following conditions:
- Have 5% earnest money to deposit on contract at signing
- Purchase ALL CASH without mortgage contingency
- Provide proof of funds showing cash balances exceeding the offer price
- If a corporate entity, furnish corporate charter and letter of authorization to execute contract of sale
Premises will be made available for inspection prior to making an offer.
All interested parties will be given an offer package after viewing the property in person, which will include instructions on how to submit the offer and what documents will be required.
THIS OFFER IS ONLY MADE TO REAL ESTATE INVESTORS ONLY / All first time home buyers and owner occupants should consider other property offerings available in this neighborhood.
