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$ 3,500,000
Est. payment /mo
Price Dropped by $500K
1901 Avenue M Brooklyn, NY 11230
7,000 SqFt
UPDATED:
Key Details
Property Type Other Rentals
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 7,000 sqft
Price per Sqft $500
MLS Listing ID 500005
Year Built 1931
Annual Tax Amount $56,595
Property Sub-Type Mixed Use
Property Description
Investment Opportunity: Prime Comer Mixed-Use Property 1901 Avenue M, Brooklyn, NY Available for the first time in 50 years, this prime corner property offers significant upside potential in a high-demand Brooklyn location near shopping and public transportation. Property Breakdown - Residential (4 Units): Two 3-bedroom and two 1-bedroom units. Current monthly rents: $1,750, $1,220, $1,980, and$1,400. - Commercial ( 4 Tenants): Includes a corner pharmacy anchor ($7, 100/mo ), alteration store ($1,525/mo), retail store ($420/mo), and a locksmith (provides building maintenance in lieu of rent). Financial Summary - Total Monthly Income: $15,395 - Total Annual Income: $184,740 - Annual Expenses: $90,015 (Includes $56,550 Taxes, $14,965 Insurance, $6,500 Water/Sewer, and $12,000 Gas with a new boiler - Net Operating Income (NOi): $94,725 Investment Highlights - Excellent visibility on a prime corner. - Stable commercial tenants with a long-term pharmacy anchor. - Strong existing income with rents currently below market value. - Ideal for investors looking to maximize value through strategic rent increases.
Location
State NY
County Kings (brooklyn)
Area Midwood
Zoning R7A
Rooms
Basement Full
Interior
Interior Features Other
Hot Water Gas, Other
Heating Gas
Flooring Other
Heat Source Gas
Exterior
Exterior Feature Brick
Roof Type Other
Building
Story 3
Foundation Poured Concrete, Other
Others
Energy Description Gas
Financing 1031 Exchange,Bank Mortgage,Cash
Listed by BHHS Fillmore R.E.
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