605 President Street #3 $2,695,000
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$2,650,083
List price: $2,695,000
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605 President Street #3
House in Park Slope • 
building info
4 bd • 3 ba • 1,848 ft²
Buy with Yoreevo

$2,650,083

List price

$2,695,000

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Key Details
Days on market
156
Last price change
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Estimated payment
$18,270
Taxes
$473
Monthly maintenance
N/A
Description
Welcome home to 605 President Street, a legal 3-family townhouse! This modern Park Slope townhouse was gut renovated in 2015 to feature open-floor living spaces and is currently configured as a 2-family dwelling. The owner's duplex is on the parlor and second floors. A one bedroom rental on the garden level can be used for the traditional mother-in-law apartment or for income potential. The updated design provides outdoor space, abundant storage and plenty of natural light to both homes. As a bonus, this building allows the rare opportunity for expansion, making it a true investment property. Walking up the picturesque brownstone stoop, you soon enter the parlor level foyer, which is exclusive to the owner (no need to share hallways with your tenant). As you enter the owner's duplex, you are drawn into a welcoming, modern living space. Follow the sunlight from the two large south-facing front windows, through the kitchen and formal dining area, and onto the spacious deck out back. You'll also find a full bathroom on this floor. The flow of the parlor floor makes this a space for family to gather. The chef's kitchen is equipped with a 6 burner Viking range/oven, Sub-zero refrigerator, and Bosch dishwasher. Meals can be shared at the 9 ft quartz island, in the formal dining area or out on the spacious deck. The deck has a gas grill and can be utilized as your outdoor kitchen. A few steps down is a lush backyard, for relaxation or play. The large outdoor space adds to year-round livability, accommodating al fresco dining, all-season grilling, outdoor entertaining, gardening, and significant play space for children. The subtle transitions between the different areas provides a space that feels warm and unified, yet incredibly spacious. Back inside, walk up the stairs to the three bedrooms. The sunny and airy master bedroom overlooks the garden. The other two bedrooms face tree-lined President Street, one of which has a walk-in closet. A huge bathroom features double sinks and a tub/shower combo. A washer/dryer is also conveniently located on this level. The contemporary one bedroom garden rental features an open kitchen with stainless steel appliances, Bosch dishwasher and a washer/dryer. There is an outdoor patio off of the bedroom that is roughly 300 sq ft for your tenant's use. The current rental unit offers an appealing and ongoing rent roll of approximately $37,440 per year. Below ground, the cellar is dry, has high hat lights installed and is perfect for storage. Without much imagination or cost, the cellar can easily be transformed into additional living space a workshop, a wine cellar, a gym, a play room, an office or whatever you need it to be. The low expenses and strong rent roll positions at 605 President Street creates an ideal opportunity for a family looking to live in this coveted section of Park Slope, while having a tenant help pay their bills. The current owners anticipated all future needs and were proactive in building maintenance, installed all new plumbing and electric, an on-demand tankless water heater, and ductless mini split Mitsubishi air conditioning units. This was an all-in effort to ensure a seamless turn-key experience for the next savvy owner. The house has an additional 933 feet of unused air rights, allowing you to build a third floor and/or extension to increase either the owner s space or add another rental unit and double your income. Additional Amenities: Walk Up, Formal Dining Room

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Amenities
BUILDING AMENITIES
  • Fios Available
LISTING AMENITIES
  • Patio
  • Hardwood
History
What it'll cost
Purchase price
$2,695,000
Asking Price: $2,695,000
Term
30 Years
Down Payment
$269,000 (10%)
Min: 10% (269,000)
Rate
8.0 %
Mortgage Amount
$2,425,500
Mortgage Payment
$17,797
Taxes
$473
Estimated Yoreevo rebate
$44,917
Estimated closing cost
$99,000
Total monthly cost $18,270
Buy your dream home with us and get an estimated
$44,917 rebate.
Rebates vary by sale price, market and are subject to a minimum commission.
Courtesy of Compass

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