Price Reduced 2.27%

$1,075,000

Est. Mortgage $5,365/mo *

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Price History

$1,100,000
9/18/2023

$1,075,000
11/30/2023

1931

Calling All Investors, Developers & End-Users!!! 100% Occupied 9.97 Cap 5 Unit Apartment Building In Brooklyn For Sale!!! The Building Features Great Exposure, Excellent Signage, Strong R7A Zoning, Private Driveway, Large Gated Yard, 6 Parking Spaces, High 10' Ceilings, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Brooklyn Just A Few Minutes From Rt. 27 Near Prospect Park Lake & The Brooklyn Museum!!! Neighbors Include UPS, FedEx, CubeSmart Self Storage, Target, ShopRite, AutoZone, Bank Of America, Optimum, Blink Fitness, Planet Fitness, Key Food, Dunkin', Walgreens, McDonald's, BP Gas, Taco Bell, Duane Reade, Dollar Tree, Five Below, Subway, National Wholesale Liquidators, Aldi, IHOP, Wendy's, KFC, +++!!! This Property Has HUGE Upside Potential!!! This Could Be Your Next Development Site Or A Nice Addition To Your Investment Portfolio!!! Income: Apt. 1A (Studio, 1 Bath): $24,252.60 Ann.; Lease Exp.: 5/31/24. Apt. 1B (1 Br. 1 Bath): $14,217.72 Ann.; Lease Exp.: 5/31/25. Apt. 2A (3 Br. 1 Bath): $19,004.88 Ann.; Lease Exp.: 6/30/24. Apt. 3A (3 Br. 1 Bath): $21,391.20 Ann.; Lease Exp.: 11/30/23. Apt. 4A (3 Br. 1 Bath): $18,033.36 Ann.; Lease Exp.: 9/30/25. Private Gated Parking Lot: $36,000 Ann. Gross Income: $142,899.76 Ann. Expenses: Heat: $1,510 Ann. Electric (Common Areas Only): $721 Ann. Maintenance & Repairs: $937 Ann. Water & Sewer: $4,203.58 Ann. Insurance: $5,270.66 Ann. Taxes: $13,032 Ann. Total Expenses: $25,674.24 Ann. Net Operating Income (NOI): $107,225.52 Ann. (9.97 Cap!!!)

Status:

Active

Type:

Commercial

Units:

5

Zoning:

R7A

Acreage:

0.07

Est. Taxes:

$13,032

Current Use

Other

MLS #:

3505396

Community Info

School Info

Walk Score

Mass Transit

Yelp

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Listing courtesy of All Island Estates Realty Corp 516-783-5600