388 Clinton Avenue is a massive, approximately 6600 square foot brick building on one of the most desirable blocks of Clinton Hill's famed Clinton Avenue. This building is a coveted 5 story, 24' wide property which is currently configured as a triplex over a high-income 3-bedroom rental, over an office which occupies the entire first floor and cellar. It has been fully renovated with updated mechanicals and finishes and it will be delivered with the triplex vacant.
The 3 bed/2 bath rental unit and the office will be delivered with leases in place paying a combined $11,800 per month. The triplex will be delivered vacant and has 5 bedrooms, 4 baths, and a huge private terrace. It will make a superb home or it could be a very high-income rental.
A property like this is rare and offers many opportunities to either an investor or end-user. As a straight investment property, this building is being offered at approximately a 5.5% cap rate. For an end-user who chooses to live in the triplex, the income from the office and floor through pay off perhaps the entire mortgage.
Located in the most desirable part of Clinton Hill very close to the A, C trains, Fort Greene Park, Barclays Center, BAM, Pratt Institute, and superb shopping and nightlife on Fulton Street and Dekalb Avenue.