Would anyone be interested in renting a 2/2 for $750 in Brooklyn??

[ProjectMaximus]

I've got a duplex that I plan on fixing up into two 2/2 units on the "gritty side" of Park St in Brooklyn. Just trying to gauge whether there is interest yet in that area for anyone on this site, or anyone else you may know. Short walk to the retail and offices in Brooklyn for a cheap price, as long as you don't mind being surrounded by derelict houses and empty lots...

[acme54321]

But you make it sound so attractive   

[thelakelander]

Lol, what's the address? That area isn't scary for urban pioneers or people who aren't afraid of living in a minority dominated neighborhood. If anything, it's largely abandoned with a ton of potential. If you fix your property up, I'm sure you won't have any problems getting it rented. My dad owns several properties in similar neighborhoods in Central Florida. They stay full.

[Captain Zissou]

I've got a duplex that I plan on fixing up into two 2/2 units on the "gritty side" of Park St in Brooklyn. Just trying to gauge whether there is interest yet in that area for anyone on this site, or anyone else you may know. Short walk to the retail and offices in Brooklyn for a cheap price, as long as you don't mind being surrounded by derelict houses and empty lots...

That area is so small that 2 or 3 projects like this can really change the perception of that side of park street.  I may not be interested in living there, but I'd be down to invest in a future project.

[ProjectMaximus]

But you make it sound so attractive   

I just keep it real.

Lol, what's the address? That area isn't scary for urban pioneers or people who aren't afraid of living in a minority dominated neighborhood. If anything, it's largely abandoned with a ton of potential. If you fix your property up, I'm sure you won't have any problems getting it rented. My dad owns several properties in similar neighborhoods in Central Florida. They stay full.

I agree. Felt that way even for the past three years, but the main issue is deciding what quality to fix it up. I'm always wanting to make a place the nicest possible that the market will bear. So three years ago I could have just rehabbed it to make it livable to rent for $500, but I've been wanting to remodel with nice finishes for ~$750 or so and I'm wondering if now is the time. It probably will never make sense to rebuild to multistory with a rooftop deck which is what I'd ideally want to do haha...

That area is so small that 2 or 3 projects like this can really change the perception of that side of park street.

Yes agreed.

[Kerry]

I've got a duplex that I plan on fixing up into two 2/2 units on the "gritty side" of Park St in Brooklyn. Just trying to gauge whether there is interest yet in that area for anyone on this site, or anyone else you may know. Short walk to the retail and offices in Brooklyn for a cheap price, as long as you don't mind being surrounded by derelict houses and empty lots...

That area is so small that 2 or 3 projects like this can really change the perception of that side of park street.  I may not be interested in living there, but I'd be down to invest in a future project.

I'll keep this post in mind.  I have been toying with the idea of buying one of those blocks west of Park St and building row houses (and maybe live/work units depending on the street), but won't be in a financial position to do so until 4th quarter of 2017.

[heights unknown]

I've got a duplex that I plan on fixing up into two 2/2 units on the "gritty side" of Park St in Brooklyn. Just trying to gauge whether there is interest yet in that area for anyone on this site, or anyone else you may know. Short walk to the retail and offices in Brooklyn for a cheap price, as long as you don't mind being surrounded by derelict houses and empty lots...

That area is so small that 2 or 3 projects like this can really change the perception of that side of park street.  I may not be interested in living there, but I'd be down to invest in a future project.

I'll keep this post in mind.  I have been toying with the idea of buying one of those blocks west of Park St and building row houses (and maybe live/work units depending on the street), but won't be in a financial position to do so until 4th quarter of 2017.

RICH!!!

[MusicMan]

"If you build it, they will come...."

[jax_hwy_engineer]

I'd rent that in a heartbeat. I was on the lookout for listings in that area when I was contemplating buying for exactly this reason. If I could find a rental for that price anywhere near Riverside or San Marco I'd jump on it in a heartbeat. Well, once May/June hits, THEN I'd jump on it.

[bl8jaxnative]

If you're talking about north of Park, like on spruce or in there, I'd recommend against it.  Gritty would be nirvana compared to how it really is. 

The lesser problem is that the vacant lots are often sites of big, loud gatherings.   A lot of them and these aren't permitted gatherings in the park. 

So you say, great!  Just people getting together and having fun.   

Sure, 88% of them.  The problem is the other 12% that live and travel here.   

There isn't a lot left back there so you don't here a lot.  There just isn't the volume.  But it's worse than just gritty.   

And I drive and bike all over the city, including some places that I wouldn't live.    Maybe I'm wrong by my gutt feel is that if an outsider shows up, they're going to regret it.


If you could see the faces on the guys on the left, you'd see why I was recommending not moving there.   I was ready to hit the accelerator on the car.  2 of them were looking at me like they were ready to tear me appart.  It was really disturbing.  And not the first time I've gone through there.


https://www.mapillary.com/app/?lat=30.325377777777778&lng=-81.67528333333334&z=17&pKey=brbEfzDrWxUYn3m7hUA1eg&focus=photo&x=0.4916597620313492&y=0.6527078668010713&zoom=0


https://www.mapillary.com/app/?lat=30.325263888888887&lng=-81.67549722222223&z=17&pKey=NKuZsHh1TPHY03zPyAfm5A&focus=photo&x=0.3015059612650752&y=0.6243941979915432&zoom=0.9202453987730062




The layout of the area with McCoy's Creek and the freeway is wonderful.  They provide some natural barriers and there's a lot of empty lots for redevelopment.     Some changes in the area could lead to a lot of other changes.  It's probably worth owning and renting out.  I just wouldn't want to live there right now.

BTW - It's nice to see the new dev going in next to 220 Riverside ( blanking on name ).     I see that they've blocked off Magnolia.  Is that temporary or permanent?

[ProjectMaximus]

So reviving this thread! What's the story now? Address is 319 and 323 Elm St, basically the corner of Elm and Dora St. Is this property ready to be fixed up?

[Florida Power And Light]

Always fun to witness investors buying property sellers can’t wait to sell.