113 Brighton 11th Street, Brooklyn, NY 11235

Property Description

Turn Key - Brighton Beach 5 Unit Mixed-Use FREE MARKET Property Available Now. Currently a 7 Cap Rate Here’s a rare opportunity to acquire a well-positioned three-story mixed-use building in the heart of Brighton Beach, Brooklyn. Located just a short distance from Brighton Beach Ave, this building is a total of 4,560 sq ft, a 20’ by 76’ building sitting on a 20’ by 90’ lot. The property includes 5 residential apartment units, each featuring the same one-bedroom layout, along with one ground-floor commercial space offering street visibility. Four out of five apartments are rented and are each paying $1,900 a piece. The tenants are great and have been there for a long time so the current owner has given them a bit of a discount. No one is currently on leases. The commercial space is currently being rented by a shipping company for $2,100 per month. Again, they’ve been there for a while and have been great tenants so the rent could be raised. Expenses Currently Annually are... $3,100 - for the gas/heat bill $2,880 - Electric $2,592 - Water Taxes - $28,466 Total expenses are $37,036 per yr. Total Income as is at $139,200 per yr. Currently just under a 7 cap. Proforma numbers would be $156,000 in income immediately, raising it to an 8 Cap Rate. The large unit sizes, solid layout, and flexible configuration provide room for long-term value creation. The commercial space can support a range of uses, depending on the new owner’s vision and updates. This is a strong option for any party looking to acquire and improve a classic Brooklyn asset in a well-connected and good location. With increasing demand throughout Brighton Beach and continued neighborhood growth, this property offers the scale, location, and layout to deliver reliable performance over time. Property is being sold as-is.