Overview
Calling All Investors, Developers & End-Users!!! 8.74 Cap 24 Unit Apartment Building With R5 Zoning In Brooklyn For Sale!!! The Building Features Excellent Signage, Great Exposure, 6 Parking Spaces, High 8’ Ceilings, R5 Zoning, (4) 2 Br. Apts., (16) 1 Br. Apts., (4) Large Studio Apts., All New LED Lighting, 3 Phase Power, CAC, +++!!! The Property Is Located In The Heart Of Brooklyn Just Off Jamaica Ave., 2 Blocks From Rockaway Blvd. & Minutes From Woodhaven Blvd.!!! Neighbors Include Chase Bank, USPS, Stop & Shop, Century 21, YMCA, Boost Mobile, Dunkin’, Wendy’s, McDonald’s, Subway, Papa John’s, White Castle, KFC, +++!!! The Building Has 60 Feet Of Frontage On Grant Avenue!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or Be The Next Home For Your Business!!!Income:Unit 1A (2 Br. Apt.): $21, 600 Ann.; Lease Exp.: 4/30/26.Unit 2A (2 Br. Apt.): $17, 548.32 Ann.; Lease Exp.: 7/31/25.Unit 3A (2 Br. Apt.): $13, 932.48 Ann.; Lease Exp.: 9/14/26. Unit 4A (2 Br. Apt.): $20, 053.20 Ann.; Lease Exp.: 1/14/26.Unit 1B (1 Br. Apt.): $14, 064.24 Ann.; Lease Exp.: 1/31/26.Unit 2B (1 Br. Apt.): $14, 002 Ann.; Lease Exp.: 10/14/26.Unit 3B (1 Br. Apt.): $18, 600 Ann.; Lease Exp.: 7/31/25. Unit 4B (1 Br. Apt.): $19, 049.88 Ann.; Lease Exp.: 12/31/25.Unit 1C (1 Br. Apt.): $17, 598.84 Ann.; Lease Exp.: 3/14/26.Unit 2C (1 Br. Apt.): $15, 735.12 Ann.; Lease Exp: 7/31/26.Unit 3C (1 Br. Apt.): $16, 648.56 Ann.; M-M.Unit 4C (1 Br. Apt.): $37, 800 Ann. (Available)Unit 1D (1 Br. Apt.): $19, 419.72 Ann.; Lease Exp.: 9/30/25.Unit 2D (1 Br. Apt., Super): $17, 286.36 Ann.; Lease Exp.: 6/30/26.Unit 3D (1 Br. Apt.): $17, 144.88 Ann.; Lease Exp.: 12/31/25.Unit 4D (1 Br. Apt.): $11, 987.64 Ann.; Lease Exp.: 11/30/27. Been Here 45 Years. Unit 1E (1 Br. Apt.): $18, 600 Ann.; Lease Exp.: 4/13/26.Unit 2E (1 Br. Apt.): $14, 290.44 Ann.; Lease Exp.: 2/28/26.Unit 3E (1 Br. Apt.): $14, 116.68 Ann.; Lease Exp.: 9/30/25.Unit 4E (1 Br. Apt.): $14, 374.32 Ann.; Lease Exp.: 10/31/25.Unit 1F (Studio Apt.): $24, 480 Ann. (Available)Unit 2F (Studio Apt.): $24, 480 Ann. (Available)Unit 3F (Studio Apt.): $15, 600 Ann.; Lease Exp.: 1/30/24.Unit 4F (Studio Apt.) $16, 629.48 Ann.; Lease Exp.: 7/14/26.Expenses:Oil: $17, 000 Ann. Electric: $980 Ann.Maintenance & Repairs: $250 Ann. Insurance: $12, 023 Ann. Water & Sewer: $16, 000 Ann. Taxes: $87, 075 Ann. Total Expenses: $133, 328 Ann. Pro Forma Gross Income: $435, 042.24 Ann. Pro Forma Net Operating Income (NOI): $301, 714.24 Ann. (8.74% Cap!!!)