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$ 3,600,000
Est. payment /mo
New
7404 3rd AVE Brooklyn, NY 11209
7,400 SqFt
UPDATED:
Key Details
Property Type Other Rentals
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 7,400 sqft
Price per Sqft $486
MLS Listing ID 495979
Year Built 1939
Annual Tax Amount $24,296
Property Sub-Type Mixed Use
Property Description
Rare street-corner mixed-use building offers both residential and commercial spaces, located in the heart of Bay Ridge's vibrant 3rd Avenue business district. With excellent visibility, close proximity to the subway, and convenient transportation options, this property promises strong rental income and stable cash flow. The building sits on a 3,200 sqft lot, with a 40 × 60 ft lot. The residential portion includes a 4-bedroom, 2-bath unit on the second floor (1,800 sqft, delivered vacant), a fully renovated (approx. 5 years ago) 5-bedroom, 1-bath, 2-bath unit on the third floor, and a newly renovated 4-bedroom, 1-bath, 2-bath unit at the back of the second floor. The commercial section features two prime retail spaces on the corner, offering excellent street exposure. The property generates a total rental income of $20,430/month, or $245,160/year. Operating expenses are $35,296 annually, resulting in a Net Operating Income (NOI) of $209,864/year, with a cap rate of 5.83%. Each unit has separate heating and hot water systems, adding flexibility for both residential and commercial tenants. With stable tenants and strong cash flow, this is a must-see investment opportunity!
Location
State NY
County Kings (brooklyn)
Area Bay Ridge
Zoning R6B
Rooms
Basement Other
Interior
Interior Features None
Hot Water Gas
Heating Gas
Flooring Hardwood
Heat Source Gas
Exterior
Exterior Feature Brick
Roof Type Other
Building
Story 3
Foundation Block
Others
Energy Description Gas
Financing 1031 Exchange,Bank Mortgage,Cash
Listed by E House Realty & Mgt. Inc.
