Brooklyn Specialty for Sale - North Brooklyn
This well-maintained, brick semi-detached high-ranch building, completely renovated in 2013, is currently used as a daycare center. The building spans 3,150 square feet across 2 stories and includes a finished basement. The lot measures 29 x 80 feet for a total lot size of 2,280 square feet. Additionally, there is a private driveway with 3 parking spaces. The property has a strong structural foundation, making it a solid long-term investment.
• Investment Highlights:
• Current Rent: $10,325/month
• Gross Rent Roll: $123,900 annually
• Tenant Responsibilities: The tenant pays all expenses, including half of the real estate taxes, which reduces operating expenses for the owner.
• Real Estate Tax: $15,386 annually (Owner pays half, or $7,693)
• Cap Rate: 6.12%
• Price: $1,899,000
The property provides a stable income stream, and the cap rate reflects a strong return on investment based on the current rent roll and expenses.
• Current Rent: $10,325/month
• Gross Rent Roll: $123,900 annually
• Tenant Responsibilities: The tenant pays all expenses, including half of the real estate taxes, which reduces operating expenses for the owner.
• Real Estate Tax: $15,386 annually (Owner pays half, or $7,693)
• Cap Rate: 6.12%
• Price: $1,899,000
The property provides a stable income stream, and the cap rate reflects a strong return on investment based on the current rent roll and expenses.
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Location Highlights:
• Transportation: The property benefits from excellent public transport options, with a 100/100 transit score, providing easy access to nearby bus routes and subway lines. This makes it a convenient location for commuting.
• Walkability: With a 91/100 walkability score, the property is within walking distance of local amenities, including grocery stores, shopping areas, and dining options.
• Schools: The property is in proximity to several educational institutions, including:
o P.S. 184 Newport (Pre-K to 8th grade)
o P.S. 165 Ida Posner (Pre-K to 5th grade)
o Brooklyn Democracy Academy (9th to 12th grade)
o Nearby private schools such as Peoples Elementary School and New Grace Center Christian School.
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Key Features:
• Lot Size: 2,280 sq. ft.
• Building Size: 3,150 sq. ft.
• Stories: 2
• Parking: 3 spaces (Private driveway)
• Basement: Full, finished basement offering additional usable space
• Exterior: Brick
• Construction: Poured concrete foundation
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Investment Summary:
This property presents a fantastic investment opportunity in the Brownsville area, which is experiencing growth and development. With a long-term tenant in place covering most operating expenses, minimal owner responsibilities, and the potential for property value appreciation, 265 Lott Ave offers investors a reliable and profitable asset.
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