332 Kings Highway, Brooklyn, New York 11223

$4,225,888
6,324
SqFt
List Price
$4,225,888
Status
ACTIVE
MLS#
469344
Sq. Ft
6,324

Property Description

Bensonhurst-Gravesend *PRIME LOCATION * Current income 212,700. Projected with RENT-TO-RENT INCREASES & STORAGE BASEMENT 252,000.00...... Corner of Kings Highway & West 5th street. Excellent High Traffic Location =. Great Commerical and Residential Investment Property with 2 Stores & 5 family plus 2 complete finish basements approximately 1000. square feet each. Can generate additional income.. PROJECTED CAP rate 5.97%. The front professional office on king's highway has been a Real Estate office for almost 30 years AND PAYS 1/3 R.E. TAXES.... CENTRAL AIR & HEAT, the side store has its own entrance. The 5 family consist of (4) 2 bedrooms apartments and the first floor one bedroom apartment has interior entrance to complete finish basement, can possibly be rented as a DUPLEX, 7 ROOMS. Total income is at least $17,225 MONTH. ADDITIONAL POTENTIAL RENTAL INCOME: the front half of the basement approximate 1100 sq. ft. can be rented as storage for contractors for $1,000. per month. Renting billboard space on the corner 3 story building $1000 per month. THIS IS A REAL MONEY MAKER!! THE MAIN OPERATING COMPONETS of the building are as follows: Removed all old layers of roof and installed totally brand EPDM roof installed Aug 2021. 20 years guarantee. Brand new high efficiency gas boiler & water heater February 2018. Brand New chimney smokestack from basement to the roof March 2019. Forty-three new windows and window lentils were installed 3 years ago. Each apartment has breaker panel boxes, all upgraded electric services. The building was steam cleaned & pointed 5 years ago In April 2021 the fencing and fire escape has been painted. The complete 3 story hallway was freshly painted September 2021. Building in excellent condition. If you desire an investment property without any problems this is truly a GEM! PROJECTED GROSS INCOME $259,200K Zoning R7-a c2-3 overlay. Don't pass up on this great opportunity!!! CAN BUILD CONDOS, check with the architect

Additional Information

Lot Size
2,200
Stories
3
Parking Description
None
Heat Source
Gas
Zoning
R7 c2-3
Sale Type
Agent Owned
Bank Financing
Bank Mortgage, Cash
Building Type
Semi-Detached
Basement
Finished
Lot Dimensions
97 x 22
Building Dimensions
93.00 x 22.00

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of RE/MAX Edge.