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$3,990,000
Est. payment /mo
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1012759
Rental Info No
Year Built 1931
Annual Tax Amount $24,000
Property Sub-Type Multi Family
Source onekey2
Property Description
MYNY is proud to present an exceptional investment opportunity in the heart of Sunset Park, Brooklyn.
This corner mixed-use property occupies a highly visible location at the intersection of 4th Avenue and 50th Street. Conveniently situated near Sunset Park and offering quick access to the Brooklyn-Queens Expressway (I-278), the property benefits from excellent transportation connectivity. A bus stop located directly beside the building further enhances accessibility and contributes to strong pedestrian traffic.
This income-producing asset consists of four commercial units and six residential apartments, generating a gross annual rental income of $298,284 and offering an attractive 6.85% return based on a purchase price of $3,900,000.
The ground floor is fully occupied by four established commercial tenants, including a restaurant, hair salon, tax office, and clothing store. All residential and commercial tenants are operating under active leases and have demonstrated a strong rent payment history.
The residential component consists of six updated apartments, including three 3-bedroom units and three 2-bedroom units, all rented at market rates except the super unit. The 3-bedroom apartments enjoy beautiful water views overlooking the Bay Ridge Channel. Residents and visitors can also enjoy panoramic views from the rooftop, featuring both waterfront scenery and views of the Manhattan skyline.
With its prime corner location, stable rental income, strong tenant mix, and outstanding views, this property offers significant long-term value and future upside potential for investors seeking a quality mixed-use asset in one of Brooklyn's most vibrant neighborhoods.
This corner mixed-use property occupies a highly visible location at the intersection of 4th Avenue and 50th Street. Conveniently situated near Sunset Park and offering quick access to the Brooklyn-Queens Expressway (I-278), the property benefits from excellent transportation connectivity. A bus stop located directly beside the building further enhances accessibility and contributes to strong pedestrian traffic.
This income-producing asset consists of four commercial units and six residential apartments, generating a gross annual rental income of $298,284 and offering an attractive 6.85% return based on a purchase price of $3,900,000.
The ground floor is fully occupied by four established commercial tenants, including a restaurant, hair salon, tax office, and clothing store. All residential and commercial tenants are operating under active leases and have demonstrated a strong rent payment history.
The residential component consists of six updated apartments, including three 3-bedroom units and three 2-bedroom units, all rented at market rates except the super unit. The 3-bedroom apartments enjoy beautiful water views overlooking the Bay Ridge Channel. Residents and visitors can also enjoy panoramic views from the rooftop, featuring both waterfront scenery and views of the Manhattan skyline.
With its prime corner location, stable rental income, strong tenant mix, and outstanding views, this property offers significant long-term value and future upside potential for investors seeking a quality mixed-use asset in one of Brooklyn's most vibrant neighborhoods.
Location
State NY
County Kings (brooklyn)
Rooms
Basement Unfinished
Interior
Heating Natural Gas
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features None
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Building
Story 4
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
High Schools Brooklyn 15
School District Brooklyn 15
Others
Special Listing Condition None
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Listed by MYNY Residential • Yin C. Koh
Nearby School & Business
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