241 Kingston AveBrooklyn, NY 11213

This vacant, mixed-use building in Brooklyn, NY presents a compelling value-add investment opportunity. Located at 241 Kingston Ave, this three-story property boasts 3,129 square feet on a 1,475 square foot lot, zoned R6. The building comprises five units: four residential apartments (one 1-bedroom unit projected to rent for $2,500/month, two 2-bedroom units projected at $3,000/month each, and another 1-bedroom unit projected at $2,500/month) and a storefront projected to rent for $4,500/month. The property includes a backyard and basement. Pro forma NOI is $152,822, with a pro forma cap rate of 8.26%. The asking price is $1,850,000, or $370,000 per unit, and $591.24 per square foot. A projected $350,000 renovation budget yields a 6.95% yield on cost. The adjacent property at 239 Kingston Ave is also available for sale, offering the potential for a larger package deal. All financial information is based on pro forma projections and should be independently verified. Buyer is responsible for verifying all information.