1137 Flatbush Avenue is a mixed-use building with 4 residential, 3 bedroom apartments, over 1 large retail store, which has been sub-divided into 2. One retail store rents at $3,500, approx. $40/sf, and the other portionis getting $2,000. The common spaces and residential units have recently been renovated. All of the units are occupied and getting an average of $2,000/month. The opportunity is to purchase a stable asset in a gentrifying part of Brooklyn, close to amenities and transportation. This is just a few blocks from 2 express subways and 25 minutes to Manhattan. There are additional air-rights (3,470) to either add a bedroom to the2nd floor unit or build up for another unit. We also believe the rental comps support rents at $2,300. This is a 6.2% CAP and expect to stabilize over a 7% CAP
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
