Listed by Brown Harris Stevens
$2,250,000
1397 Franklin Avenue
Details
Property Type Mixed Use
Sub Type 2
Square Footage 4,131
Units 2
Cap Rate 6.82%
NOI $153,375
Occupancy 100%
Price per SqFt $545
Year Built 1950
Buildings 1
Stories 3
Lot Size (SqFt) 3,135
Zoning R6 (2.43)
Investment Type Value Add
Mixed Use | 6.82% CAP | 4,131 SqFt
Marketing description
A 33’ wide two-unit three story corner mixed-use building. The property has two stores on the first floor and two four-bedroom apartments above.
The units have nice wood floors all the bedrooms have good size closets and get great sunlight. The units has 10’ ceilings and individually metered for gas and electric.
Investment highlights
The property is a prime investment opportunity, an investor can add value by updating the apartments and common areas. The property is also a great development opportunity, a 9,647 square feet building can be built with commercial on the ground floor.
The property is also a great user opportunity, a user can use the corner stores for their business and live in one of the units.
The property has great residential and commercial exposure on Franklin Avenue and 170th Street. The 2 & 5 trains are on 174th Street and Freeman Street.
Listing Contacts
Listed by Brown Harris Stevens
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$153,375.00
$12,781.25/mo
Valuation Metrics
0
DSCR
6.82%
Cap Rate
6.82%
ROI
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