Welcome to this lucrative mixed use property in East Flatbush, New York !
Website: | https://www.nestseekers.com/3450158 |
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Address: | 4222 Avenue D East Flatbush, NY 11203 |
Cross street: | East 43rd St |
Ownership: | For Sale |
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Type: | Commercial |
Bedrooms: | Studio |
Lot Size: | 1950 sq ft |
Financials
Price: | $925,000 |
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Annual Taxes: | $12,221 |
Description
Welcome to this lucrative mixed-use property in East Flatbush, New York! This versatile property offers a total insurance cost of $3,600 annually and $1,800 water annually. Tenants responsible for paying electric utilities, while water gas utilities are included. The 3-bedroom, 1-b unit is suitable for office or store use and rents for $2,400 per month with a very good tenant. In addition to the existing rental income there is a potential income of $10000 per month for the downstair office store front, making the total potential rental income $12400 per month. a current annual tax of $12,221, this property presents a promising investment opportunity. The property features a backyard for outdoor activities and relaxation, And it includes a shutter provide access to the basement. It also offers the possibility to rent out four units totaling 2,000 square feet - one in the front and three in the back, providing additional income potential. With a calculated Net Operating Income (NOI) of $128,579 and a cap rate of approximately 12.86% based on a property value of $1,000,000, this property offers a solid return on investment and significant growth potential.
Contact
1107 Bedford Avenue Phone: +1(646) 443–3788 Fax: +1212-252-9347 | |
Courtesy of 5 Boro Realty Corp |