Property Details

Overview

Welcome to this lucrative mixed-use property in East Flatbush, New York! This versatile property offers a total insurance cost of $3, 600 annually and $1, 800 water annually. Tenants responsible for paying electric utilities, while water gas utilities are included. The 3-bedroom, 1-b unit is suitable for office or store use and rents for $2, 400 per month with a very good tenant. In addition to the existing rental income there is a potential income of $10000 per month for the downstair office store front, making the total potential rental income $12400 per month. a current annual tax of $12, 221, this property presents a promising investment opportunity. The property features a backyard for outdoor activities and relaxation, And it includes a shutter provide access to the basement. It also offers the possibility to rent out four units totaling 2, 000 square feet - one in the front and three in the back, providing additional income potential. With a calculated Net Operating Income (NOI) of $128, 579 and a cap rate of approximately 12.86% based on a property value of $1, 000, 000, this property offers a solid return on investment and significant growth potential.