Listing Details:
$2,200,000 Price
Multi-Family Townhouse Property Type
New York City Neighborhood
12 Beds
4 Baths
5,170 Approx. Sq. Ft.
$833 RET
Key Features:
Prewar
Allows Pets
Description:
Welcome to 1137 Flatbush Avenue, a 3-story mixed-use building property located in the bustlingneighborhood of Flatbush, Brooklyn.
This income-producing property consistsof 4 large free-market residential apartments and two retail units spread across 5,170 sqft.Each residentialunit includes (3) bedrooms, a renovatedkitchen/ renovated bathroom, and features exposed brick in the bedrooms.
1137 is an excellent acquisitionfor an investor looking for a property with a stableincome and the opportunitytoaddvalue. The current cap rate of 5% can be expected to reach 7%. An investor also has a development opportunity with the property in an R7A/C2-4 zoning, 3,500 SF of additional air rights.
The property is conveniently located near shopping, restaurants, entertainment, and the historic Kings Theatre. The Beverly Road 2 and 5 trains are a five-minute walk. The Cortelyou Road Q train is a twelve-minute walk west of the property.
Listing courtesy of Compass
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