• Mixed-Use Building
  • RE Taxes: $26,313/Year
  • Built: 1939
  • Mixed-Use Building
  • RE Taxes: $26,313/Year
  • Built: 1939

PERFECT INVESTMENT OPPORTUNITY. Fully leased corner 2-story prewar building in a great neighborhood. Two 2 bedroom/1 bathroom apartments on the second floor are rented for $1,625/month and $1,450/month to a long term tenants. A dental office on the first floor of around 2,200 sq. ft. was leased on July 1, 2019 for 10 years with current rent of $6,120/month. All three tenants pay rent on time, even during COVID-19. The annual income of $110,340 with annual expenses of $41,225 (R. E. Tax – $26,313; Insurance-$3,300; Oil-$7,000; Electric-$612; Water- $2,400; Garbage-$1,600) will bring to the new owner net profit of over 6%, without any extra effort. Additional air rights and the size of the building (27×60) provides an opportunity to significantly increase the current Cap Rate.

  • Vice President
    Licensed Associate
    Real Estate Broker (NY)
    Licensed Real Estate
    Salesperson (FL)

    Phone: (212) 668-1767
    nina@ostrovrealty.com

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