276 Irving Avenue

Description

Calling All Investors, Developers & End-Users!!! 100% Occupied 8 Unit Apartment Building In Bushwick For Sale!!! The Building Features Excellent Signage, Great Exposure, High 9' Ceilings, R6/C2-3 Zoning, New Roof, New Boiler, New Stoop, New Sidewalk, Skylight, All New LED Lighting, 6 Parking Spaces, +++!!! The Property Is Located In The Heart Of Bushwick Just Off Myrtle Avenue Only 2-3 Blocks From The L & M Trains!!! Neighbors Include Starbucks, Northwell Health, UPS, CubeSmart Self Storage, Extra Space Storage, Bath & Body Works, Raymour & Flanigan, Shake Shack, CVS, Dunkin', Taco Bell, Qdoba, Popeye's Louisiana Kitchen, Subway, White Castle, KFC, +++!!! The Property Offers Easy Access To Manhattan Via The Train & The Williamsburg Bridge!!! This Property Offers HUGE UPSIDE Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: 1L (2 Br. Apt.): $27,049.56 Ann.; Lease Exp.: 10/1/25. 1R (2 Br. Apt.): $26,929.35 Ann. 2L (2 Br. Apt.): $31,258.80 Ann. 2R (2 Br. Apt.): $14,651.40 Ann.; 9/30/25. 3L (2 Br. Apt.): $24,598.32 Ann. 3R (2 Br. Apt.): $20,929.68 Ann. 4L (2 Br. Apt.): $23,456.16 Ann.; Lease Exp.: 10/31/25. 4R (2 Br. Apt.): $26,799.60 Ann. Billboard Sign: $2,000 Ann. Been Here 10+ Years. M-M. Gross Income: $197,672.87 Ann. Expenses: Gas: $4,872 Ann. Electric: $1,420 Ann. Maintenance/ Repairs: $250 Ann. Insurance: $4,622 Ann. Taxes: $12,839 Ann. Water & Sewer: $8,600 Ann. Total Expenses: $32,603 Ann. Net Operating Income (NOI): $165,069.87 (5.6% Cap)