1011 Winthrop Street-Income Producer

Welcome to 1110 Winthrop Street, this mixed use building is truly massive at 19x60. Its currently set up as two very large three bedroom apartments upstairs that are 1000 square feet each and the commercial space is currently occupied by a church which is 1200 square feet on the ground level. There is also a full basement. This is an excellent investment in a neighborhood that is getting a lot of attention. Located on the border of Canarsie and East Flatbush, this building will be a great source of income for the savvy investor looking for a solid cap rate. Currently there are tenants occupying all spaces at under market rents. The projected income for this building is approx $80,000 on the conservative end. The landlord pays for heat and hot water, tenants pay cooking gas and electric. The building has been in the same family for decades and will need some minor cosmetic updating in order to maximize its potential. Never the less the building is massive and priced to sell. The zoning is R6 and the FAR is 2.43.