brooklyn menahan street area prime location!
Published date: November 24, 2020
United States, New York, new york
Menahan Street, the property is a 20′ wide three unit three story building. The apartments are all two-bedroom floor-through units with a full kitchen and full bathroom. The property is located between Myrtle and Knickerbocker Avenues. Both Avenues have great retail stores, restaurants, and easy access to the M train.
The building is a great investment opportunity, since the property is only three units its not subject to rent stabilization laws. The investor can always charge top rents for the units, also the building has a C2-3 overlay. The first and second floor can be converted into commercial space or live/work space. There will be big demand for the space because the property is located off Myrtle Avenue and is two blocks from the train station where all the foot traffic comes from. The property is also great for user, they can live on the ground floor and rent out the other two units above.
The property can be converted into a mixed-use building because the zoning allows commercial on the first and seconds. The building is individually metered for gas & electric, all the meters are in the basement.
The area is close to all modes of transportation, as the area keeps developing there will be more demand for renovated units in the neighborhood. The property is also a prime user opportunity, a user can convert the first floor and basement into a duplex apartment,
and rent the second and third floors for income. The tenants are each paying $1,800 per month and are on a month-to-month basis with no lease.
ASKING PRICE: $1,400,000
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