Listed by Eastern Union
$2,975,000
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299-301 Chauncey
Details
Property Type Mixed Use, Multifamily
Sub Type Apartment Building
Square Footage 9,710
Units 9
Cap Rate 6.72%
NOI $200,000
Occupancy 100%
Price per SqFt $306
Broker Co-Op Yes
Year Built 1925
Year Renovated 2020
Buildings 5
Stories 3
Lot Size (SqFt) 3,600
Zoning R6B, C2-4
Investment Type Stabilized
Corner Mixed Use - 4 new luxury townhouses + 3 gut rehab apts + 2 retail stores. Motivated Seller.
Marketing description
A combination of recently renovated and newly constructed apartments and corner retail stores.
9,710 square feet, comprising 7 apartments and 2 storefronts.
No rent stabilization history. New J-51 tax benefit from the construction of the 4 private high end townhouses, which features a rare configuration. Currently generating a gross income of $300,000 this property is a strong income-generating asset. Located just 3 blocks from the Ralph Ave C train, it offers exceptional convenience and accessibility.
Investment highlights
Well located corner asset with part new construction and part gut renovation. Value add in the retail units.
Listing Contacts
Listed by Eastern Union
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$200,000.00
$16,666.67/mo
Valuation Metrics
0
DSCR
6.72%
Cap Rate
6.72%
ROI
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