747 Flushing Avenue
Brooklyn,
NY
11206
Property Details
List Price: |
$2,499,988 |
Beds: |
6 |
Baths: |
3 |
Status: |
Active |
SqFt: |
3483 |
Agency: |
ONE STOP MULTISERVICE INC |
Description/Comments
Lot Size: |
-- |
Property Type: |
MultiFamily |
Year Built: |
-- |
Notes: |
MIXED-USE BUILDING FOR SALE IN EAST WILLIAMSBURG BROOKLYN. PRIME LOCATION. PROPERTY OVERVIEW: Mixed-Use Building with 1 store and 2 apartments on the second and third floors. Basement includes storage space, and a boiler room with separate access. All tenants responsible for their own utilities. Separate electric meters and two separate boilers for residential tenants. Favorable low taxes $4,318 Conveniently situated across the street from Woodhull Hospital. Half a block from the J & M trains - Flushing Avenue Station. B43 & B57 Buses. BUILDING: 3,843 Sq. Ft. w/ an allowance to build an additional 1,838 Sq. Ft. Current Rent Rolls: 3-bedroom box room apartment: $2,200 (No Lease) 3-bedroom box room apartment: $2,000 (No Lease) Commercial Space/Restaurant: $5,000 (5 year Lease w/ 3% annual increase) NOI $95,482 Cap Rate 3.8% Annual Expense: Taxes $4,318 Water $2,000 Electric $3,600 Insurance $5,000 Total $14,918 PROJECTED MARKET RENTS with NEW LEASES: 3-bedroom apartment: $5,100 3-bedroom apartment: $5,100 Commercial Space: $5,000 Projected Total Income: $15,200 Projected Annual Income: $182,400 Expenses: 14,918 Projected NOI: $167,482 Projected Cap Rate: 6.7% This property presents a compelling investment opportunity with significant potential for increased income and adjusting rents to market rates. With a projected cap rate of 6.7%, it offers attractive returns for investors seeking to capitalize on a mixed-use property in a business district. |
MlsNumber: |
11256630 |
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Listing Provided By: |
ONE STOP MULTISERVICE INC, original listing |
Name: |
ONE STOP MULTISERVICE INC |
Phone: |
(718) 554-0257 |
Office Name: |
ONE STOP MULTISERVICE INC |
Office Phone: |
(718) 554-0257 |
Agent Name: |
Hans Campana |
Disclaimer: |
Copyright © 2024 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. |