Property
| Ownership: | For Sale |
|---|---|
| Type: | mixed-use |
| Bedrooms: | Studio |
| Pets: | No Pets Allowed |
Financials
Listing Courtesy of eXp Realty
PRIME MIXED USE INVESTMENT OPPORTUNITY IN THE HEART OF MYRTLE AVE !
- 69-38 Myrtle Ave Entrance
- 69-37 Cooper AveEntrance
- Commercial space 6937 cooper ave
- commercial space 6938 myrtle ave
- Bar featuring a drop ceiling, white cabinetry, dark wood-style floors, and freestanding refrigerator
- Bathroom featuring tile walls, a paneled ceiling, vanity, and dark tile patterned floors
- Half bathroom featuring tile walls, light tile patterned flooring, a drop ceiling, and vanity
- Kitchen featuring a paneled ceiling
- Exercise room featuring wood finished floors
- 10
- Bathroom featuring tile walls, vanity, and wainscoting
- Kitchen with dark wood finished floors and white cabinets
- Unfinished below grade area featuring electric panel and gas meter
- Basement view of electric panel
- Utilities featuring electric panel
- Utility room featuring gas water heater
- 4 bedroom apartment kitchen
- Spare room featuring dark wood-style floors and radiator
- Spare room with radiator and dark wood-style floors
- Empty room with dark wood-style floors and radiator heating unit
- Bathroom featuring vanity, bathing tub / shower combination, tile walls, wainscoting, and tile patterned floors
Description
PRIME MIXED USE INVESTMENT OPPORTUNITY IN THE HEART OF MYRTLE AVE!
Welcome to 6938 Myrtle Ave, a rare mixed-use asset offering strong income, zero deferred maintenance, and exceptional upside. Perfect for both investors and owner operators seeking a high yield property in a high demand corridor.
This Property offers Three income producing units with an impressive projected gross income of $132,216 Annually, supported by stable residential rents and a high visibility commercial space.
Current Rent Roll
4 Bedroom Residential Unit: $3868/Month - VACANT
3 Bedroom Residential Unit: $2,150/Month - Occupied
2 Commercial Spaces: $5,000/Month-VACANT (Projected) (1 entry on 6938 Myrtle Ave, 2nd entry on 6937 Cooper Ave ) Space can be split in two different spaces or 1 large space.
Total Annual Expenses: $13,500
Net Operating Income (NOI): $118,716
Cap Rate: 7.7
The Commercial Store front offers excellent, exposure on busy Myrtle Ave- Ideal for retails, Professional use, or stable long term tenancy. The Residential units are well sized, separately metered, and positioned for long term cash flow.
Whether You're looking to expand your portfolio or secure a reliable mixed use building in a prime location, this property delivers strong numbers, strong location, and strong potential.
A PERFECT BLEND OF STABILITY AND OPPORTUNITY- DON'T MISS OUT!
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
