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Free Market Seven Unit Mixed Use Building For Sale
209 Malcolm X Blvd, Brooklyn, NY 11221
7 Units | Multifamily
Multifamily Property - Off Market
- No. Units:
- Building Size:
- 4,680 SF
- Property Type:
- Property Sub-type:
- Property Use Type:
- Cap Rate:
- Lot Size:
- 2,080 SF
- Listing ID
- Last Updated
- over 1 year ago
The 4,680 Sq. Ft. building is three stories and consists of seven fully occupied units; five free market residential units and two commercial units. Currently, the actual gross income for the building is $84,840 a year; with expenses of approx. $32,890, the net operating income is approx. $51,950.
The property has a significant upside to increase income with current average residential rent per unit at $964/month, and average rent per Sq. Ft. at only $15/SF. Area rents for similar sized units are around $20/SF. Being that the building is free market and no leases are in place, rent increases can be projected at approx. $1,250-$1,350/month.
The property is located on Malcolm X Blvd between Putnam Avenue and Jefferson Avenue in the Bedford Stuyvesant neighborhood of Brooklyn.
The property is accessible through the A & C subway lines at the Utica Avenue subway station and the J subway line at the Gates Avenue subway station. The property is also accessible through the B46 bus line the runs up and down Malcolm X Blvd and continues on Broadway to the North and Utica Avenue to the South.
Map of 209 Malcolm X Blvd, Brooklyn, NY 11221 (Kings County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P