308 Crescent Street
East New York | Fulton St & Atlantic Av
Ownership
Mixed Use
Lot Size
29'x109'
Status
Active
Real Estate Taxes
[Per Annum]
$ 22,858
Building Size
20'x50'
Year Built
1920
ASF/ASM
4,584/426
Property Description
Great investment opportunity. This Mixed Use property, on a 2,930 sq ft lot, with 5.7% Cap Rate! The property is located on Crescent St between Atlantic Ave & Fulton St in Cypress Hills, and consists of Two Storefronts + Two 3BR 2Bath apartments. The storefronts take 109 ft of space on super busy Atlantic Ave, and are currently rented to a church and a catering space. Each storefront is paying $3,500 per month. Both storefronts also pay their share of property taxes of $4967 each annually. Each apartment is paying $2,500 per month. There are no leases in place. Each lease is month to month. Total income is $153,936. Expenses are 39,425.40. Net Revenue is $114,510.60. Entire place was gut renovated 4 years ago, new roof, windows, plumbing, electricity, water heating system, boilers, hot water tanks, fully finished basement, apartments, hallway, check photos. The property also has air rights for future development opportunities .
Great investment opportunity. This Mixed Use property, on a 2,930 sq ft lot, with 5.7% Cap Rate! The property is located on Crescent St between Atlantic Ave & Fulton St in Cypress Hills, and consists of Two Storefronts + Two 3BR 2Bath apartments. The storefronts take 109 ft of space on super busy Atlantic Ave, and are currently rented to a church and a catering space. Each storefront is paying $3,500 per month. Both storefronts also pay their share of property taxes of $4967 each annually. Each apartment is paying $2,500 per month. There are no leases in place. Each lease is month to month. Total income is $153,936. Expenses are 39,425.40. Net Revenue is $114,510.60. Entire place was gut renovated 4 years ago, new roof, windows, plumbing, electricity, water heating system, boilers, hot water tanks, fully finished basement, apartments, hallway, check photos. The property also has air rights for future development opportunities .
Listing Courtesy of RE/MAX Edge
Care to take a look at this property?
Apartment Features
Exposed Bricks
Hardwood Floors
Private Entrance
Building Details [308 Crescent Street]
Ownership
Mixed Use
Block/Lot
4146/67
Building Size
20'x50'
Zoning
R5
Year Built
1920
Floors
3
Lot Size
29'x109'
Mortgage Calculator in [US Dollars]
BNYMLS All information furnished regarding this or any property listed for sale or rent is gathered from sources deemed reliable. Though we have no reason to doubt the accuracy or validity of this information, we make no warranty or representation as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or withdrawal without notice. It is strongly recommended that the prospective purchaser or tenant shall carefully review each item of size, dimensions, real estate taxes, expenses, legal use and any other information presented herein.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
