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.