NY > Brooklyn
Brooklyn, NY 11220,6819 3rd AVE
Brooklyn, NY 11220,6819 3rd AVE
Brooklyn, NY 11220,6819 3rd AVE
Brooklyn, NY 11220,6819 3rd AVE
Brooklyn, NY 11220,6819 3rd AVE
Brooklyn, NY 11220,6819 3rd AVE
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Celinda Iaboni

Celinda Iaboni

+1(631) 786-9603
$ 2,675,000
Est. payment | /mo

7,468 SqFt

Save
$ 2,675,000
Est. payment | /mo
Save

7,468 SqFt

Key Details

Property Type Mixed Use

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 7,468 sqft

Price per Sqft $358

MLS Listing ID 498128

Year Built 1931

Annual Tax Amount $33,704

Property Sub-Type Mixed Use

Property Description

Trophy Mixed-Use Investment 6 Units + Restaurant Prime Bay Ridge INVESTMENT OPPORTUNITY 6 FAMILY AND CHIC RESTAURANT! HIGH-INCOME INVESTMENT OPPORTUNITY IN BAY RIDGE, BROOKLYN. EXTRA-LARGE (27x70 BLDG SIZE-7500 SQFT-27x106 LOT SIZE Zoning: C1-3/R5B) 4 STORY, BRICK 6 FAMILY + STORE/RESTAURANT. FIVE OF THE SIX UNITS ARE FREE MARKET, CIRCA 2004, AND ARE NOT SUBJECT TO RENT STABILIZATION. MAKING IT A LUCRATIVE INVESTMENT OPPORTUNITY FOR THOSE LOOKING FOR STABLE, LONG-TERM RETURNS. OVER $220,000/YEAR RENTAL INCOME. CENTRALLY LOCATED ON BUSY, HIGH-TRAFFIC & BUSTLING 3rd AVENUE, IN THE EPICENTER OF BAY RIDGE. WELL-ESTABLISHED RESTAURANT WITH BEAUTIFUL OUTDOOR DECK TENANT IS IN THE PROCESS OF OBTAINING A LIQUOR LICENSE. TENANT PAYS ALL THEIR OWN UTILITIES + 1/3 BLDG TAXES & 1/2 BLDG WATER BILL. BUILDING OWNER ALSO OWNS ALL RESTAURANT FIXTURES AND THEY ARE INCLUDED IN THE SALE. RESTAURANT SEEKS A LONG LEASE EXTENSION! THIS VERY EFFICIENT & EXTREMELY WELL-MAINTAINED PROPERTY PRACTICALLY RUNS ITSELF. PRIME PIECE OF INVESTMENT REAL ESTATE IN ONE OF BROOKLYN'S MOST DESIRABLE & PREMIER NEIGHBORHOODS, WITH EVEN MORE OUTSTANDING UPSIDE POTENTIAL FOR ITS NEXT SAVVY OWNER. 5.75% Cap at $157,820 NET-With Potential to Surpass 6.0% Once Rents Are Optimized! Owner retiring after 30 successful years. Just collect and count. THE PROPERTY OFFERS EXCEPTIONAL UPSIDE RENTAL POTENTIAL. Of the six residential units, five are currently free-market with no leases in place, allowing a new owner to raise rents to market levels. The layout of each unit-a classic railroad-style two-bedroom with dual hallway entrances and a central living space-makes them ideal for maximizing rental income. Based on current market trends and comparable rentals in Bay Ridge, each free-market unit has potential to command up to $2,700/month, compared to existing averages below $2,000/month. This creates a projected upside of over $41,000/year in additional gross income.

Location

State NY

County Kings (brooklyn)

Area Bay Ridge

Zoning R6B

Rooms

Basement Full

Interior

Interior Features Other

Hot Water Gas

Heating Gas

Flooring Hardwood

Heat Source Gas

Exterior

Exterior Feature Brick

Roof Type Flat,Rubber

Building

Story 4

Foundation Poured Concrete

Others

Energy Description Gas

Financing 1031 Exchange,Bank Mortgage,Cash

Listed by RE/MAX Real Estate Professiona

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Celinda Iaboni

Celinda Iaboni

+1(631) 786-9603

Broker | License ID: 10491210466

Broker License ID: 10491210466

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6819 3rd AVE

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