688 Washington Ave Brooklyn, NY 11238

This exceptional mixed-use property, located at 688 Washington Avenue in the vibrant Prospect Heights neighborhood of Brooklyn, New York, presents a compelling investment opportunity. The three-story building encompasses 2,793 square feet and features five units: four recently renovated free-market apartments and one commercial unit. All residential units boast updated appliances and split-system heating and cooling, with tenants responsible for all utilities except hot water. The building enjoys 100% occupancy, generating a current Net Operating Income (NOI) of $159,169 and a 5.79% capitalization rate. Pro forma projections indicate a NOI of $175,314 and a 6.38% cap rate, showcasing significant upside potential. Its prime location offers easy access to multiple subway lines (N, R, W, B, Q, 2, 3, 4, and S), and proximity to Prospect Park adds to its desirability. The asking price is $2,750,000, translating to $984.60 per square foot. This is a rare chance to acquire a well-maintained, high-performing asset in a thriving Brooklyn neighborhood. The property's strong cash flow, excellent location, and potential for future appreciation make it an ideal addition to any investment portfolio. The building's current strong occupancy and recent renovations further enhance its appeal. This is a turn-key investment ready for immediate income generation.