332 Kings Highway

Brooklyn, NY, 11223

$4,208,888

$665 per ft²
$4,208,888
$665 per ft²
Active
Active
 - For Sale
carpenters-square
6,324 ft²
property_type
Other
Bensonhurst-Gravesend Prime Location. Corner Kings Highway & West 5th Street. Excellent High traffic location. Great Commercial and Residential Investment Property with 2 Stores & 5 family . CAP Rate 5.56 %.The front professional office on Kings Highway has been A Real Estate Office for almost 30 years .The side store has its own entrance. The 2 stores rental income is $ 7,000. per month + 1/3 annual RE taxes . The 5 family consist of ( 4 ) 2 bedroom apartments and ( 1 ) 1 bedroom . Current apartment rental income $8,975. per month. Total income is at least $16,225. . All of the apartments have been completely renovated with custom kitchens and Imported Italian tile Bathrooms. The 900 sq ft basement is tastefully finished ideal for home office ,recreational use with the first floor apartment(duplex )and has interior staircase . Which will generate additional $1,300.per month JULY 1ST 2022. ADDITIONAL POTENTIAL RENTAL INCOME: The front half of the basement approximate 1100 sq.ft. can be rented as storage for contractors , for $1,000. per month. Renting billboard space on the corner 3 story building $1,000. per month . This is a REAL MONEY MAKER. THE MAIN OPERATING COMPONENTS" of the building are as follows: Removed all old layers of roof and installed Totally brand new EPDM roof installed Aug. 2021 , 20 year guarantee. Brand new high efficiency gas boiler & water heater Feb. 2018. Brand new chimney smoke stack from basement to the roof March 2019. Forty three new windows & window lentils were installed 3 yrs ago.. Each apartment has breaker panel boxes, all upgraded electric service. The building was steam cleaned & pointed 5 years ago. In April 2021 the fencing and fire escape has been painted. The complete 3 story hallway was freshly painted September 2021.Building in excellent condition. If you desire an investment property without any problems this is truly a gem. PROJECTED GROSS $259,200k Zoning R7a -C2-3 overlay. Don't pass up Great opportunity.
MLS® ID:
458569
Listed:
1/24/22
Updated:
6/29/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Floor Description
Ceramic, Granite
Heating
Baseboard, Hot Water, Steam/Radiator

Exterior/Building Features

Lot Size
2,200 ft² lot
Roof
Flat

Other Property Details

Area Name
Bensonhurst
Taxes
$14000
Tax Frequency
per YEAR
Garage
No
View
N
County
Kings (Brooklyn)
Total Stories
3
Zoning
R7 C2-3

Property History

Date
Event
Price
Value
6/22/22
Price Change
$4,208,888
0%
6/9/22
Price Change
$4,218,888
100%
6/2/22
Price Change
$4,200,000
0%
4/18/22
Price Change
$4,225,000
100%
3/3/22
Price Change
$4,200,000
-1%

 

Courtesy of Sav-A-Lot Realty Inc

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Richard Gontrand shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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