BEDS5
BATHS4 full
MLS#1035496
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SCHOOLBrooklyn 19
Property Description
Welcome to 48 Crescent Street, a versatile income-producing property in the heart of Cypress Hills, offering established rental income, a spacious layout, and promising long-term potential across three thoughtfully utilized levels.The first-floor residence features 2 bedrooms and 2 full bathrooms and is currently rented for $3,027 per month, with a lease in place through July 2027.The second-floor residence offers 3 bedrooms and 1.5 bathrooms and is currently rented for $3,058 per month, with a lease through December 2026. The landlord's monthly portion is $2,709, while the tenant is responsible for gas and electric.Both occupied residences are city-administered rentals, providing consistent monthly income under the existing program and lease terms. With current rents below potential market value, the property may offer an opportunity for future rental growth following the expiration of the existing leases, subject to applicable regulations and program requirements.The lower level expands the property's versatility with a separate outside entrance. Currently vacant and used for storage, the space provides flexibility for recreation, a home office, additional storage, or other permitted uses.Conveniently located near the J train at the Cypress Hills station, the J and Z trains at the Crescent Street station, and multiple nearby bus routes, the property offers convenient connections throughout Brooklyn, Queens, and Manhattan.Enjoy close proximity to the shops, supermarkets, restaurants, and everyday conveniences found along Jamaica Avenue, along with the open green spaces, walking paths, and recreational opportunities of Highland Park and the Ridgewood Reservoir. Easy access to Atlantic Avenue and the Jackie Robinson Parkway further enhances the property's accessibility.Offering dependable rental income, a flexible three-level layout, and a well-connected Brooklyn location, 48 Crescent Street presents an excellent opportunity for an investor or future owner-occupant. Schedule your private showing today.
Property Features
Property Type: Multi Unit - Multiple
Basement: See Remarks, Storage Space, Unfinished
Basement: Yes
Cooling: Wall/Window Unit(s)
Heating: Hot Water, Natural Gas
Lot Size: 0.03 Acres
Taxes: $6,164
Year Built: 2007
Amenities
First Floor Bedroom
First Floor Full Bath
Ceiling Fan(s)
Washer/Dryer Hookup
Feature Descriptions
Building Area Total: 2070
Exterior: Brick
Heating Zones: 2
On Market Date: 2026-08-06
Parcel Number: 04105-0181
Parking Features: On Street
Property Attached Y/N: 1
Rental Term: Monthly
Sewer: Public Sewer
Units: 2
Utilities: Natural Gas Connected, See Remarks
Water: Public
Local Schools
High School: Cypress Hills Collegiate Prep School
Middle School: Highland Park Community School
Elementary School: Ps 65
School District: Brooklyn 19
Estimate Your Payment
Estimated Payment
$ 6,904.78 per month $6,042.57 Principal & Interest $513.67 Property Tax $348.54 Homeowner's InsuranceChange Payment Information
Listed By / Shown By
Listing By
Agency Name: Douglas Elliman Real Estate
Agency Contact: 516-669-3700
Shown By
Agent Name: Nicholas Pappas
Agent Phone: Cell: (631) 433-5256
Agency Title: Coldwell Banker American Homes
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48 Crescent Street | MLS# 1035496
This multi-family property located at 48 Crescent Street , Brooklyn, NY 11208 is currently listed for sale with an asking price of $1,195,000. Crescent Street is located within the Brooklyn 19 school district. Search Brooklyn real estate on nicholaspappas.cbamhomes.com today.