Rutland Rd, Brooklyn, NY undefined

🏢 East Flatbush Mixed-Use 3-Unit Property | Asking $1,200,000 | 6.8% Pro Forma CAP

📍 Prime East Flatbush, Brooklyn
Between E 94th & E 95th Streets
Near the 2, 3, 4, and 5 trains at Sutter Ave–Rutland Rd and B12 Bus

🧱 Property Overview:

• Three Units Total:
  • 🏪 1 Commercial Retail (Leased)
  • 🏠 1 Residential 2-Bedroom Apartment (Leased)
  • 🏠 1 Residential 1-Bedroom Apartment (Vacant – Light Reno Needed)

• Lot Size: 20 ft x 90 ft

• Building Size: 20 ft x 62 ft = 2,480 SF (Approx.)

• Zoning: Mixed-use

💵 Rental Income (Pro Forma – Stabilized):

• Retail Store (Leased): $3,500/month → $42,000/year

• 2-Bedroom Unit (Leased): $2,600/month → $31,200/year

• 1-Bedroom Unit (Projected): $2,400/month → $28,800/year

• ✅ Total Gross Scheduled Income: $102,000/year

📉 Operating Expenses (Estimated):

• Real Estate Taxes: $5,997

• Insurance: $5,100

• Repairs/Maintenance Reserve: $5,000

• Utilities/Misc: $4,000

• ✅ Total Estimated Expenses: $20,097/year

📈 Pro Forma Net Operating Income (NOI):

$102,000 (Gross Income) – $20,097 (Expenses) =
➡️ $81,903/year NOI

📊 Investment Metrics:

• Asking Price: $1,200,000

• Pro Forma CAP Rate: 6.8%

• Light Value-Add: Only ~$10K needed to lease the vacant 1BR at market rent

• Potential Upside: Rent growth + tenant turnover in high-demand corridor

🚇 Location Highlights:

• Strong retail and residential corridor

• Surrounded by dense housing and foot traffic

• Minutes from multiple subway lines (2, 3, 4, 5)

• Near schools, retail, and community hubs

🔑 Ideal For:

• Long-term buy & hold investors

• 1031 Exchange buyers

• Mixed-use portfolio operators

• Investors seeking retail + residential cash flow