Description
Great investment opportunity. This Mixed Use property, on a 2,930 sq ft lot, with 5.7% Cap Rate! The property is located on Crescent St between Atlantic Ave & Fulton St in Cypress Hills, and consists of Two Storefronts + Two 3BR 2Bath apartments. The storefronts take 109 ft of space on super busy Atlantic Ave, and are currently rented to a church and a catering space. Each storefront is paying $3,500 per month. Both storefronts also pay their share of property taxes of $4967 each annually. Each apartment is paying $2,500 per month. There are no leases in place. Each lease is month to month. Total income is $153,936. Expenses are 39,425.40. Net Revenue is $114,510.60. Entire place was gut renovated 4 years ago, new roof, windows, plumbing, electricity, water heating system, boilers, hot water tanks, fully finished basement, apartments, hallway, check photos. The property also has air rights for future development opportunities .
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Building Features 3 Floors2 Units
intercom
$1,979,000 / $431 per ft²
Last Asking: Jan 15, 2024
- Beds / - Baths - / 4,584 ft²
Total Monthly expenses: $1,904
Maintenance: - / R.E. Taxes $1,904
Other Details:
Mixed Use (1-6 Family)
Lot Size: 20.33' x 109.42' Built: 20.0' x 50.0'
Zoning: S1-5, S9
Exclusively listed with: RE/MAX Edge
Alexey Kogan
remaxkogan@gmail.com
(917) 776-8269
Listing Courtesy of RE/MAX Edge
Unit listing history
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