INVESTMENT PROPERTY/1031 EXCHANGE: I am pleased to present this great opportunity to purchase this well-maintained mixed use building for sale at a 5.88% capitalization rate. The High Net Operating income of $173,878 is ideal for a 1031 exchange.
The 3 story brick building is fully occupied. The building and all 6 units are in great condition. There are 4 modern residential (1 bedroom) apartments with new plumbing, electric, and wood floors above 2 commercial ground level storefronts. The modern, clean, finished basement with tiles 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, and close proximity to Wyckoff Heights Hospital, Myrtle Avenue, and Kinickboker Ave. The building itself houses two popular community destinations: Bushwick Bark and Werkshop Coffee Co.