1901 Avenue M, Brooklyn, New York 11230
- $3,500,000
- 7,000
- SqFt
- List Price
- $3,500,000
- Price Change
- ▼ $500,000 1780624237
- Status
- ACTIVE
- MLS#
- 500005
- Sq. Ft
- 7,000
- Year Built
- 1931
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.
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Additional Information
- Lot Size
- 2,517
- Stories
- 3
- Heat Source
- Gas
- Year Built
- 1931
- Zoning
- R7A
- Sale Type
- Arm's Length
- Bank Financing
- 1031 Exchange, Bank Mortgage, Cash
- Building Type
- Semi-Detached
- Year Built
- 1931
- Basement
- Full
- Lot Dimensions
- 100 x 25
- Building Dimensions
- 100.00 x 25.00
- Estimated Yearly Tax Amount
- $56,595
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Listing courtesy of BHHS Fillmore R.E..