181 Irving Ave, Brooklyn, NY, 11237

About This Home

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 building is 25' x 65' on a 25' x 100' lot. The 3 story brick building is fully occupied. The current square feet is 4,875 (with additional buildable square feet of approximately 1,198 square feet, and 1200 air rights to be discussed with your architect). The building and all 6 units are in great condition, with new wood floors. There are 4 modern residential (1 bedroom) apartments 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 2 storefronts are in what is described as "Bushwick's trendiest section," in huge demand by franchises due to its demographics, and high visibility. The building is in 1 block proximity to the train station, has a paradise walk score 100/100, and is in 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. The fully occupied building is in excellent buy as 1031 exchange or investment. In addition, the modern, clean finished basement with tiles is great for storage. (Photos will be posted soon) Seller is open to hear ALL reasonable offers. Please contact Maryann Giraramita for additional information