1792 Broadway is a mixed-use, turn-key investment opportunity in Ocean Hill. Built in 1925, and gut-renovated in 2018, this three story building is delivered with secured tenants in the residential units. The commercial space can be delivered occupied or vacant, at buyer's request. Current monthly rental income is $10,350, with low monthly expenses; current CAP rate 6.7%.Projected monthly income, with rentals at market rate is $12,050, projected CAP rate is 8.1%!!! This brick-facade property, spanning 20 ft wide and 55 ft deep, is configured as two residential units, and a street-level retail space, plus basement storage. Full Gut Renovation in 2018, works included: + New roof + New windows + Complete electrical rewire, including new electric panel box + New plumbing + HVAC system installed with split A/C units + Addition of three new separate hot water heaters + Brand new modern kitchen, and bathrooms, with stainless steel appliances including full-size dishwasher + Washer and dryer installed in both apartments Hardwood floors throughout and skylights on top floor Ocean Hill is ideally nestled between thriving Bushwick, Bedford Stuyvesant and Crown Heights and is easily accessed via multiple train lines to include L J Z A & C, with Union Square only 30 minutes away. The area is prosperous, with multiple large condo developments popping up in the local vicinity. 1801 Broadway, located across the street, boasts 41 condos & sought after commercial space. The commercial space on the ground floor with glass frontage at street level, is home to a local salon and event space. If rented, the 900 sqft basement can increase the rental income, either as 'storage' or renovated it can be additional commercial space. This area continues to attract the opening of many new businesses, with recent additions to the area including The Broadway, Brooklyn Whiskers Bakery, Cup of Brooklyn, Gems of Brooklyn, Tre' Jolie Cafe, Salud Bar & Grill, The Steel Mill and House Party Cafe. Both rental units have a four bedroom layout, maximizing potential rental income. Internal features include spacious closets, chic white open plan kitchen with subway tiling and counter seating, exposed brick, fireplace and skylights. The units are modern, renovated and benefit from dishwasher, in-unit laundry and AC. Ample street parking makes this property accessible and visible. Whether you wish to acquire a commercial space or you're solely seeking an investment opportunity, reach out today to request the SETUP SHEET or SCHEDULE A SHOWING.
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