INVESTMENT PROPERTY/1031 EXCHANGE: I am pleased to present this great opportunity to purchase this well-maintained mixed use building in the heart of Bushwick offered at a 6.7% capitalization rate. The High Net Operating income of $191,878 is ideal for a 1031 exchange. This block has high pedestrian traffic with a peaceful, nice residential vibe.
The 3 story brick building is fully occupied. There are (6 units) 4 modern residential (1 bedroom) apartments with new plumbing, electric, and floors above 2 commercial ground level storefronts. The modern, clean, newly tiled finished basement is great for storage. This area is characterized by populated young professionals, and rapidly diversifying population with high pedestrian activity driven by its proximity to major transit hubs and local commercial "hot spots. The storefronts are in what is described as "Bushwick's trendiest section," in huge demand by franchises due to its demographics, high visibility, and 1 block proximity to the train station, paradise walk score 100/100 , and close proximity to Wykoff Heights Hospital, Myrtle Avenue, and Knickerbocker Ave. The building itself houses two popular community destinations: Bushwick Bark and Werkshop Coffee Co. * Seller open to hear all reasonable offers.