747 Flushing Avenue Brooklyn, NY 11206
Multi-Family (2-4 Units)
MLS #: 11256630
Courtesy Of ONE STOP MULTISERVICE INC
Property InformationDescription
MIXED-USE BUILDING FOR SALE IN EAST WILLIAMSBURG BROOKLYN. PRIME LOCATION. PROPERTY OVERVIEW: Mixed-Use Building with 1 store and 2 apartments on the second and third floors. Basement includes storage space, and a boiler room with separate access. All tenants responsible for their own utilities. Separate electric meters and two separate boilers for residential tenants. Favorable low taxes $4,318 Conveniently situated across the street from Woodhull Hospital. Half a block from the J & M trains - Flushing Avenue Station. B43 & B57 Buses. BUILDING: 3,843 Sq. Ft. w/ an allowance to build an additional 1,838 Sq. Ft. Current Rent Rolls: 3-bedroom box room apartment: $2,200 (No Lease) 3-bedroom box room apartment: $2,000 (No Lease) Commercial Space/Restaurant: $5,000 (5 year Lease w/ 3% annual increase) NOI $95,482 Cap Rate 3.8% Annual Expense: Taxes $4,318 Water $2,000 Electric $3,600 Insurance $5,000 Total $14,918 PROJECTED MARKET RENTS with NEW LEASES: 3-bedroom apartment: $5,100 3-bedroom apartment: $5,100 Commercial Space: $5,000 Projected Total Income: $15,200 Projected Annual Income: $182,400 Expenses: 14,918 Projected NOI: $167,482 Projected Cap Rate: 6.7% This property presents a compelling investment opportunity with significant potential for increased income and adjusting rents to market rates. With a projected cap rate of 6.7%, it offers attractive returns for investors seeking to capitalize on a mixed-use property in a business district.
Features
- Amenities: Basement
- Architecture Style: Other
- Heating Fuel: Natural Gas
- Roof Type: Unknown
- Rooms: Basement, Bedroom, Full Bath, Half Bath, Kitchen
MAP & DIRECTIONS
School Information
747 Flushing Avenue, Brooklyn, NY 11206
Elementary School
Grades KG-5 |
Public School
P.S. 380 JOHN WAYNE ELEMENTARY SCHOOL
Brooklyn, NY 11206
370 Marcy Ave
718.388.0067
Distance: 0.6 mi
School Rating
B
Student:Teacher Ratio
11:1
Total Students
483
Middle School
N/A
High School
N/A
| Other Nearby Schools | Distance | Type | Grades | School Rating |
|---|---|---|---|---|
| Ohel Chayz Dba Tiferes Mordechei Center For Interg | 0.1 mi | Private | PK-KG | |
| P.s. 257 John F. Hylan School | 0.2 mi | Public | PK-6 | B- |
| Ps 373 Brooklyn Transition Center | 0.2 mi | Public | 9-12 | |
| Success Academy Charter School-bed Stuy 2 | 0.2 mi | Public | KG-4 | A |
| P.s. 59 William Floyd School | 0.2 mi | Public | KG-5 | D+ |
| P.s. 120 Carlos Tapia School | 0.3 mi | Public | KG-5 | D- |
| Intermediate School 318 Eugenio Maria De Hostos | 0.3 mi | Public | 6-8 | C |
| P.s. 297 Abraham Stockton School | 0.3 mi | Public | KG-5 | D+ |
| Success Academy Charter School - Bed Stuy 1 | 0.4 mi | Public | KG-8 | B- |
| Ps 368 | 0.4 mi | Public | PK-12 | |
| Williamsburg Charter High School | 0.4 mi | Public | 9-12 | D+ |
| P.s. 250 George H. Lindsay School | 0.4 mi | Public | KG-5 | C- |
| Brighter Choice Community School | 0.5 mi | Public | PK-5 | B |
| Bedford Stuyvesant New Beginnings Charter School | 0.5 mi | Public | KG-8 | A |
| Brooklyn Charter School (the) | 0.5 mi | Public | KG-5 | B- |
| P.s. 23 Carter G. Woodson School | 0.5 mi | Public | KG-5 | D |
| Bais Rochel School | 0.6 mi | Private | 1-7 | |
| P.s. 145 Andrew Jackson School | 0.6 mi | Public | KG-5 | C |
| Bnos Yaakov Educational Center | 0.6 mi | Private | 1-12 |
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.
Demographic Data
Brooklyn, NY 11206
| Median Age: | 30.5 |
|---|---|
| Married: | 29% |
| Number of Households: | 31,034 |
| Households with Children: | 29.4% |
Brooklyn, NY 11206
Demographic Data
-
Occupancy Types
- 0 Vacant
- 0 Owned
- 0 Rented
-
Transportation to Work
- 0 Drive
- 0 Public Transportation
- 0 Walk / Bike / Other
- 0 Work at Home
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