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$ 1,650,000
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5,998 Sqft Lot
$ 1,650,000
Est. payment | /mo
5,998 Sqft Lot
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision East Flatbush
MLS Listing ID 1061706
Rental Info No
Year Built 1933
Annual Tax Amount $66,610
Lot Size 5,998 Sqft
Acres 0.1377
Property Sub-Type Multi Family
Source onekey2
Property Description
Calling All Investors, Developers & End-Users!!! 11.2 Cap 19 Unit Apartment Building With R6 Zoning In Brooklyn For Sale!!! The Building Features Excellent Signage, Great Exposure, 6 Parking Spaces, High 8' Ceilings, R6 Zoning, (5) 2 Br. Apts., (14) 1 Br. Apts., Basement, Large Rear Yard, 4 Stories, All New LED Lighting, 3 Phase Power, A/C, +++!!! The Property Is Located In The Heart Of Brooklyn Just Off Linden Blvd. & Kings Hwy.!!! Neighbors Include Chase Bank, Citibank, USPS, FedEx, BJ's Wholesale Club, Public Storage, AutoZone, Dunkin', Walgreens, Mavis Discount Tire, Key Food, Dollar Tree, McDonald's, Wendy's, Burger King, Wingstop, Bojangles, Raising Cane's, KFC, +++!!! The Building Has 60 Feet Of Frontage On E 94th Street!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or Be The Next Home For Your Business!!!
Income:
Unit 1A (1 Br. Apt.): $10,737.84 Ann.; Lease Exp.: 10/31/26.
Unit 2A (2 Br. Apt.): $19,105.44 Ann.; Lease Exp.: 10/31/27.
Unit 3A (1 Br. Apt.): $13,380.12 Ann.; Lease Exp.: 10/31/26.
Unit 4A (2 Br. Apt.): $16,594.32 Ann.; Lease Exp.: 10/31/26.
Unit 1B (1 Br. Apt.): $16,454.04 Ann.; Lease Exp.: 5/31/26.
Unit 2B (1 Br. Apt.): $19,712.88 Ann.; Lease Exp.: 10/31/26.
Unit 3B (2 Br. Apt.): $10,769.40 Ann.; Lease Exp.: 10/31/26.
Unit 4B (1 Br. Apt.): $16,333.80 Ann.; Lease Exp.: 10/31/26.
Unit 5B: (1 Br. Apt.): $12,986.52 Ann.; Lease Exp.: 5/31/25.
Unit 1C (1 Br. Apt.): $15,616.20 Ann.; Lease Exp.: 4/30/27.
Unit 2C (1 Br. Apt.): $13,115.52 Ann.; Lease Exp: 10/31/26.
Unit 3C (2 Br. Apt.): $14,472.48 Ann.; Lease Exp.: 9/30/26
Unit 4C (1 Br. Apt.): $16,530.48 Ann.; Lease Exp.: 10/31/27.
Official Rent: $18,794.28 Ann.
Unit 5C (1 Br. Apt.): $10,005.48 Ann.; Lease Exp.: 5/31/26.
Unit 1D (1 Br. Apt.): $18,774.96 Ann.; Lease Exp.: 10/31/27.
Official Rent: $24,246.36 Ann.
Unit 2D (1 Br. Apt.): $13,990.44 Ann.; Lease Exp.: 6/30/26.
Unit 3D (2 Br. Apt.): $15,121.32 Ann.; Lease Exp.: 6/30/26.
Unit 4D (1 Br. Apt.): $11,751.24 Ann.; Lease Exp.: 10/31/26.
Unit 5D (1 Br. Apt.): $11,920.08 Ann.; Lease Exp.: 7/31/26.
Expenses:
Gas: $8,400 Ann.
Electric: $3,600 Ann.
Insurance: $14,000 Ann.
Taxes: $66,610.88 Ann.
Total Expenses: $92,610.88 Ann.
Gross Income: $277,372.56 Ann.
Pro Forma Net Operating Income (NOI): $184,761.68 Ann. (11.2% Cap!!!)
Income:
Unit 1A (1 Br. Apt.): $10,737.84 Ann.; Lease Exp.: 10/31/26.
Unit 2A (2 Br. Apt.): $19,105.44 Ann.; Lease Exp.: 10/31/27.
Unit 3A (1 Br. Apt.): $13,380.12 Ann.; Lease Exp.: 10/31/26.
Unit 4A (2 Br. Apt.): $16,594.32 Ann.; Lease Exp.: 10/31/26.
Unit 1B (1 Br. Apt.): $16,454.04 Ann.; Lease Exp.: 5/31/26.
Unit 2B (1 Br. Apt.): $19,712.88 Ann.; Lease Exp.: 10/31/26.
Unit 3B (2 Br. Apt.): $10,769.40 Ann.; Lease Exp.: 10/31/26.
Unit 4B (1 Br. Apt.): $16,333.80 Ann.; Lease Exp.: 10/31/26.
Unit 5B: (1 Br. Apt.): $12,986.52 Ann.; Lease Exp.: 5/31/25.
Unit 1C (1 Br. Apt.): $15,616.20 Ann.; Lease Exp.: 4/30/27.
Unit 2C (1 Br. Apt.): $13,115.52 Ann.; Lease Exp: 10/31/26.
Unit 3C (2 Br. Apt.): $14,472.48 Ann.; Lease Exp.: 9/30/26
Unit 4C (1 Br. Apt.): $16,530.48 Ann.; Lease Exp.: 10/31/27.
Official Rent: $18,794.28 Ann.
Unit 5C (1 Br. Apt.): $10,005.48 Ann.; Lease Exp.: 5/31/26.
Unit 1D (1 Br. Apt.): $18,774.96 Ann.; Lease Exp.: 10/31/27.
Official Rent: $24,246.36 Ann.
Unit 2D (1 Br. Apt.): $13,990.44 Ann.; Lease Exp.: 6/30/26.
Unit 3D (2 Br. Apt.): $15,121.32 Ann.; Lease Exp.: 6/30/26.
Unit 4D (1 Br. Apt.): $11,751.24 Ann.; Lease Exp.: 10/31/26.
Unit 5D (1 Br. Apt.): $11,920.08 Ann.; Lease Exp.: 7/31/26.
Expenses:
Gas: $8,400 Ann.
Electric: $3,600 Ann.
Insurance: $14,000 Ann.
Taxes: $66,610.88 Ann.
Total Expenses: $92,610.88 Ann.
Gross Income: $277,372.56 Ann.
Pro Forma Net Operating Income (NOI): $184,761.68 Ann. (11.2% Cap!!!)
Location
State NY
County Kings (brooklyn)
Interior
Heating Natural Gas
Cooling None
Fireplace No
Exterior
Parking Features Other
Utilities Available Electricity Connected
Building
Sewer Other
Water Public
Structure Type Brick,Frame
Schools
High Schools Contact Agent
School District Contact Agent
Others
Special Listing Condition None
Listed by All Island Estates Realty Corp • Richard Matt Shane
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Jeffrey Jimenez
Licensed Real Estate Salesperson License ID: 10401267947