1293 Prospect Avenue
Corner Mixed-Use Building in Windsor Terrace for Sale
|Asking Price||Submit Offers|
|Lot Size||47.25' x 103.75'|
|Zoning Code||R5B / C1-3|
|Units||9 Residential & 2 Commercial Units|
Meridian Investment Sales is pleased to present the Exclusive Offering for 1293 Prospect Avenue, a mixed-use corner building with a total of 9 apartments and two stores in Windsor Terrace, Brooklyn. The property is situated on the corner of Prospect Avenue and Greenwood Avenue, only two blocks away from the renowned Prospect Park.
7 out of the 9 apartments are rent stabilized and only two of the apartments are Free-Market, offering a significant amount of upside in the rental income. There are six 2 bed apartments with an average rent of $1,664, approximately 40% below market rents. There are three 3 bed apartments with an average rent of $3,698, about 10% below market rents. The ground floor is occupied by two stores that both have lease expirations in 2025.
The properties gross annual income is $422,067. The annual expenses are $115,873. The Net operating income is $306,194.
The Offering benefits from immediate access to prime transportation with the F & G train located right in front of the building, offering easy access to Manhattan.
• Located in the heart of Windsor Terrace, two blocks from Prospect Park.
• Significant upside in rental income with below market rents
• Located on the same corner as the F & G subways, offering easy access to Manhattan
• Corner Property
On the corner of Prospect Avenue and Greenwood Avenue, only two blocks away from the renowned Prospect ParkProperty Listing Contact:
Adam Hess // Senior Managing Director // One Battery Park Plaza, New York, NY 10004 // 718.534.9201 // firstname.lastname@example.org
Rich Velotta // Managing Director // 800 Third Avenue, New York, NY 10022 // 212.468.5924 // email@example.com
Eddie Setton // Vice President // One Battery Park Plaza, New York, NY 10004 // 718.534.9202 // firstname.lastname@example.org
Scott Shalek // Associate // 800 Third Avenue, New York, NY 10022 // 212.468.5934// email@example.com
Aaron Birns // Associate // One Battery Park Plaza, New York, NY 10004 // 718.534.9203 // firstname.lastname@example.org