218 Cumberland, Brooklyn

$2,700,000

0 Beds
0 Baths
8,800 Sqft
0 Acres
0 Garages

Great investment opportunity. At $397.73 per square foot, consider this 10-unit stabilized building in the Fort Greene section of Brooklyn. It will be sold in ''As is'' condition with the tenants who are paying a monthly income of $11,208.76, annualized $134,505.12. [ Minus Annual Expenses $36,493.56 = $98,011.56 or Cap 2.8%.] If the building was operating with 10 paying tenants, the DHCR annual income would be $214,495.92 [Minus annual expenses $36,493.56 = $178,002.36 or 5% CAP.] The future income of the building will provide substantial returns and prove to be an excellent legacy investment. The building is in average condition, needs some renovation and the mechanicals are in fair shape.

Essential Information
MLS® #432502
Price$2,700,000
Bathrooms0.00
Square Footage8,800
TypeMixed Use / Store & Family
Sub-TypeMixed Use
StatusActive
Community Information
Address218 Cumberland
AreaFort Greene
CityBrooklyn
CountyKings (Brooklyn)
StateNew York
Zip Code11205
Interior
InteriorHardwood, Linoleum
Interior FeaturesNone
HeatingHot Water
Has BasementYes
BasementFinished, Full
# of Stories5
Exterior
ExteriorLimestone
Exterior FeaturesNone
RoofFlat
ConstructionMasonry
FoundationOther
Additional Information
Date ListedAugust 14th, 2019
Days on Market42
ZoningR6B
Property History
Price Reduced from $3,500,000 to $2,700,000
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Listing courtesy of Coldwell Banker Reliable

© 2019 Brooklyn New York MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Casandra Properties Inc. Data last updated: November 12th, 2019 at 9:15am EST

Listing courtesy of Coldwell Banker Reliable

© 2019 Brooklyn New York MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Casandra Properties Inc. Data last updated: November 12th, 2019 at 9:21am EST

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