239 Kingston Ave, Brooklyn, NY 11213-2513

This exceptional mixed-use property at 239 Kingston Avenue in Brooklyn, NY, presents a compelling investment opportunity. The vacant, three-story building boasts 3,072 square feet on a 1,450 square foot lot, zoned R6. The property comprises two 3-bedroom apartments and a retail storefront, offering a versatile configuration ideal for owner-occupancy with rental income or purely as an investment. Pro forma projections indicate a monthly rental revenue of $12,500 ($150,000 annually), with estimated annual expenses totaling $22,080.72, resulting in a projected net operating income (NOI) of $127,919.28. This translates to a pro-forma cap rate of 7.75%. The asking price is $1,650,000, with an estimated $250,000 in renovation costs. The building's dimensions are approximately 19.33 feet wide by 53 feet deep, with residential space of 2,048 square feet and retail space of 1,024 square feet. The property is currently vacant, presenting a chance to establish market-rate rents. Note that a neighboring property, 241 Kingston Avenue, is also available for sale, offering the possibility of a package purchase. All information is believed to be accurate but should be independently verified by the buyer. Square footage and dimensions are approximate.