Free Market Mixed-Use Building in Brooklyn, NY

593 ROGERS AVE, BROOKLYN, NEW YORK 11225

Executive Summary:

Price:	$2,800,000
Building Size:	5,775 SF
Property Type:	Mixed-Use
Lot Size:	0.06 Acres
Year Rebuilt:	2008
Cap Rate:	5.64%
NOI:	$158,042
Location:	593 Rogers Ave Brooklyn, NY 11225

Investment Highlights

12-Unit Mixed-Use Building in Prospect Lefferts Gardens, Brooklyn, NY
Comprised of (1) Commercial Space and (11) Residential Units
The Units are a Mix of (5) Studio Apartments, (6) 1-Bed, 1-Bath Apartments, & (1) Commercial Space
All Residential Units are Free Market
Potential for Strong Rental Growth
Building was Entirely Rebuilt in 2008
Utilities are Separately Metered – Landlord Only Pays Common Area Electric
On-Site Laundry Facility
Prime Location Within Prospect Lefferts Gardens
Walking Distance to Prospect Park, the 2 & 5 Subway Stations, and the B49 Bus Line Stops Directly in Front of the Property
Close to Major Hospitals and Medical Centers
C of O states 10 Residential Units and 2 Retail Stores
Favorable Seller-Financing Available – 4% Interest Rate

Investment Summary

American Investment Properties is retained to sell the building located at 593 Rogers Ave, Brooklyn, NY. At this location is a 12-unit mixeduse building comprised of (1) commercial space and (11) residential units. All residential units are free market that provide potential for a strong rental growth.
The building was completely rebuilt in 2008 and there is an on-site laundry facility.

About Prospect Lefferts Gardens, NY

Prospect Lefferts Gardens is a residential neighborhood in the Flatbush area of the New York City borough of Brooklyn. The community is bounded by Empire Boulevard (formerly Malbone Street) to the North, Clarkson Avenue to the South, New York Avenue to the East, and Ocean Avenue/Prospect Park to the West.
Prospect Lefferts Gardens was designated a New York City Landmark area in 1979 and called the Prospect Lefferts Gardens Historic District.

The neighborhood contains an ethnically diverse community with a largely Caribbean-American and African-American population. Since 2000s, Prospect Lefferts Gardens has been gentrifying quickly. Real estate development has increased and new residents from other groups have increased. Prospect Lefferts Gardens is part of Brooklyn Community District 9, and its primary ZIP Code is 11225. It is patrolled by the 71st Precinct of the New York City Police Department. Politically it is represented by the New York City Council’s 40th District.