397 Greene Avenue (1074-1076 Bedford Ave), this corner building built in 2010 on a tree-lined street offers endless opportunity to an investor looking for a trophy property (semi-detached with triple exposures) in Clinton Hill / Bedford Stuyvesant
*8 Years left on residential tax amatement, 17+ years left on the commercial portion of the building*
Comprised of 7 Rent-stabilized units (4 two bedrooms, 2 duplexes with 1.5 bath and 3 bedroom 2 bath duplex) ~ market rents and 2 commercial units. Set-up will explain more details. Currently at a 5% cap rate where it will be well over 5.5% in the next year. With some capital improvements, you can definitely have this well above a 6/6.5% cap rate since North Brooklyn residents are relocating to the area (pending L train shutdown)
There is about 9750 Square feet available above grade along with a usable basement of 1650 Sq Ft.
Common laundry in the basement with some common storage. Beautiful shared roofdeck which offers 360 views of downtown Brooklyn along with the Manhattan Skyline.
Bordering Clinton Hill / Bedford Stuyvesant, this architectural gem is strategically 1 block from the Bedford-Nostrand G train bordering Clinton Hill. Don't miss the opportunity! Email for the set-up
Please review floorplans
