MLS Listing Details - Ideal Properties Realty

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Ideal Property Realty

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With over twelve years of real estate experience, we pride ourselves in delivering results while building relationships that last a lifetime. Ideal Properties Realtyis a full service real estate firm that tailors its services to the satisfaction of our clients. Our ability to guide home buyers, design strategic marketing campaigns, and understand the intrinsic elements of the sales process, makes us the premiere real estate firm in Brooklyn. Our experts are trained to resourcefully assist clients in areas such as selling residential homes, condominiums, and investment properties, as well as handle rentals and leasing.Owning Real Estate is a symbol of responsibility, a source of security, and a part of the American Dream. Our professional work continuously to ensure that process is smooth, sustainable, and easy to understand.To help sellers navigate the real estate process, we begin with an educational course that helps our clients understand the market and how to price their property, and close the deal. Whether you are buying or selling, Ideal Properties Realty will guide you step by step.

Home » MLS Listing Details

6903 8th Avenue, Brooklyn, New York, New York 11228

$1,690,000

Property Details

Neighborhood: Bay Ridge Tax Amount: $7448.00 MLS Number: 504515 Bldg Size: 20 x 50 Lot Size: 20 x 60 Lot SqFt: 1197

Property Description

Excellent Investment Opportunity on Prime 8th Avenue! This attached mixed-use 1-family property offers stable cash flow and long-term leases, making it an attractive investment opportunity. The property features a 20' × 50' building on a 20' × 60' lot with annual property taxes of $7,448. The 1st floor and finished basement are currently leased to an established hair salon at $2,300/month, with the lease secured through 2029. The commercial tenant is responsible for its own utilities, including water, electricity, gas, and heating, and also pays 30% of the property taxes. The 2nd-floor residential apartment features 3 bedrooms and 1 full bathroom and will be delivered vacant, providing flexibility for an owner-user or an investor looking to establish their own rental income. The property currently generates $2,300/month in rental income from the commercial space, or $27,600 in annual gross rental income, while the vacant 2nd floor offers additional income potential. A compelling opportunity for investors seeking dependable rental income and long-term occupancy in a prime 8th Avenue location.

Property Type Mixed Use

Property Status: Active