THREE STORY MIXED-USE BUILDING FOR SALE

A 21' wide four unit three story mixed use building. The property has a store on the ground floor, which also has access to the basement and back yard. The second floor has two one-bedroom apartments. The third floor also has two one-bedroom apartments. The units are located to the front and back of the building they have 10' ceilings and get great sunlight.

The second and third floors have their own gas boilers and gas water heaters. The second and third floor are individually metered for gas and electric. The property is vacant and in need of renovation. There's a lot of original detail in the apartments and stairs that add value to the property. Please note: The property originally was a three story building with a store on the ground floor and two apartments above. The owner bought it with a store on the ground floor and four apartments above.

The property is a prime investment opportunity, an investor can rent out the store and have the tenant renovate it. The second and third floors can be renovated and rented for $2,500 for each apartment. The property is located on a nice mixed-use area which is close to shopping and all modes of transportation. There's a lot of foot traffic coming from the J and M trains on Broadway & Myrtle Avenue which is two blocks away.

The property is also a great development opportunity, a developer can build a new 8,715 square foot building. The commercial overlay allows the first and second floors to be commercial and can be built full. The third floor unit would have a big out door space to the back. The height limit allows a ten story building to be built.

The building is great for a user, they can have a store on the ground floor and fix up the apartments above and rent them for income. The apartments need cosmetic renovation and the stairs need to be replaced. The units get great sun light and are free market. There's also the potential to put a billboard on the side of the building.

Property Details of 972 Myrtle Avenue, Unit NA

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Listed by Kervin Vales of Brown Harris Stevens Residential Sales LLC

Based on information submitted to REBNY as of August 19, 2022 4:19 PM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

 
 

 

 

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