720k or best serious offer
Belmont Ave Brooklyn NY
Mother gaston ave. X christopher st
Mixed Use building delivered vacant - Projected 8.7 Cap Rate
The property is located just off the intersection of two of Brownsville's main commercial strips -- Belmont Avenue and Mother Gaston Blvd. It is also 1 block from Pitkin Avenue -- the neighborhood's main retail strip. This is a great opportunity for an investor or an owner/user.
this brick building has two large 3-BR apartments and commercial space on first floor plus 800 sqf fixed up basement
The building is in good condition it underwent major capital improvements in 2002. Improvements include: new boiler, water heater, electrical, plumbing, stairs, walls, windows and doors, new service and meters for all utilities (water, electric and gas), a finished basement. A skylight was added in 2004 and a new roof was added in 2006.
Lat Sutter Av 0.25 miles
3at Junius St 0.45 miles
Lat Atlantic Av 0.48 miles
3at Rockaway Av 0.49 miles
Lat Livonia Av 0.49 miles
Lot Size: 20’ X 50’ 1,000 SF
Building Size 20’ X 40'
Stories: 3 plus finished basement
Gross Sq. Ft.: 3,000 (Approx) + 800 finished basement
*(please verify with your own rental brokers, numbers I wrote are based on feedback I got from real estates owner on that block and few different rental brokers)
(1) Ground Floor (Store) $2000 monthly
(2) Apartment $2000 monthly
(3) Apartment $2000 monthly
Monthly total projected income $6,000
Yearly Total Projected Income $72,000
Real Estate Taxes (Actual) $ 948 WOW!
Insurance (Actual) $2,860
Water and Sewer $1,200
Fuel (Gas) $3,600
Total Expenses $9,258
Projected Net Operating Income $62,742
Asking 720,000 GIVE YOUR BEST SERIOUS OFFER!
cap rate: 8.7
Lot sq. ft. 1,000 ?
Lot dimensions 20 ft x 50 ft
Corner lot No
Buildings on lot 1
Floor Area Ratio (FAR)
Max far 2.43 ?
FAR as built 3.2 ?
Maximum usable floor area 2,430
Usable floor area 3,200
SF over FAR 770
Max FAR depends on several factors including zoning, location and use. FAR values for this property are: Facility FAR 4.8, Commercial FAR 0 and Residential FAR 2.43
Building class Primarily Two Family with One Store or Office (S2) ?
Sq. ft. 3,200
Building dimensions 20 ft x 40 ft
Has garage n/a
Year built 1899 (estimated)
Year last altered n/a ?
Certificate of Occupancy Click here ?
Residential units 2
Commercial units 1
Residential sq. ft. 1,600
Retail sq. ft. 800
Other sq. ft. 800
District code C1-3/R6
I.m ready to listen to a 710k net offer ,can negotiate