All Forum Posts by: Account Closed

Thank you all for the responses and messages. The house is only being shown to preapproved buyers and we are not interested in listing with an agent at the moment.

Hey Nick, thanks for the awesome reply!

1. How many square feet is the property? (price per square foot is arguably the most common metric to value an investment, especially a property that will be delivered mostly vacant) - property is 3000sq ft
2. What are the current taxes, and who is responsible for paying utilities? taxes are about $5k, tenant pays electric and cooking gas.
3. What is the current condition of the property's structural components? (the state of roof, siding, windows, etc can significantly affect the value of your property) Roof, boiler, siding were serviced/inspected in the last year and in great condition. I can get exact dates for an interested seller when things were replaced. Windows are in great condition.
4. What is the current condition of the interior units? (you mentioned that the units have been renovated in the last 10 years, but in a hyper competitive market like Brooklyn or Queens, 10 year old renovations are considered outdated by most investors and renters. Also, 10 year old renovations will most likely not achieve market rents, which means that any buyer will need to invest in renovating the units) 3 of the units are in perfect condition and can achieve market rent without issue. 1 unit will need a reno to bring it up to modern standards.
5. Is the basement unit a "legal" basement unit? (does it have two means of egress and windows?) We've never tried to legalize the basement but it does have two means of egress and windows. 

Hi, message me if you’re still looking.

I am a private seller and would like to price this house for a quick sale. It is a 4 family located near the Queens/Bklyn border. It is considered Glendale/Ridgewood. It is a short walk to the M train with easy access to Brooklyn and Manhattan and 1 block away from express buses to NYC.

Each 2 bedroom apartment was renovated in the last 10 years and all are in great condition. They are about 800 sqft each. 3 apartments will be vacant on title.  Fully finished basement. 2 apartments have access to a backyard patio.  1 apartment has central air. Average rent for this area is $1800-$2200.

What would be a good selling price for this house? 

Thanks in advance!

@David I agree but one issue was that the agent listed it as a multi family without describing that it was a 4 family with a finished basement. I showed it to a few people who said they would have assumed it was a 2 family.

@Christopher Phillips Great thanks!

Is it possible to break a 6 month contract with my current broker? I listed my multi family with her in August and she has only brought one person to see the house since then. She wrote a very vague description of the house and I had to speak with her multiple times to edit it. She also took horrible photos with her cell phone that doesn’t even depict how great the house is. The house is competively priced to comparables. I am located in Queens near the border of Bushwick & Williamsburg. If you know that I can get out of this contract and believe you can get this house sold please message me ASAP. TIA

I might be interested depending on which town its in.