"As you may have heard, TerraCRG has been retained to exclusively represent ownership in the sale 2553 Church Avenue. This six unit building is located between Rogers Avenue and Bedford Avenue in the Flatbush neighborhood of Brooklyn, just south of the Prospect Lefferts Gardens border.
The building’s 6 apartments are all rent stabilized and produce a gross annual income of $82,171. There are currently 5 three-bedroom apartments and 1 two-bedroom apartment in the building. There is significant upside in the building as average rents for three bedroom units are $1,240 in an area where renovated three bedroom units are achieving $2,250. The two bedroom unit is rented at $645/month, two bedrooms in the area rent for ~$2,000/month.
The property is located within a short walking distance of the area’s busy retail corridors including Flatbush Avenue, Bedford Avenue, Rogers Avenue and Nostrand Avenue. There are diverse restaurants, boutique shops and supermarkets nearby. National tenants from the banking sector have also sought to cater to newer younger residents looking for cheaper housing in Flatbush including Chase, CitiBank, Bank of America, HSBC and Capital One.
The property is conveniently located one block from the 2 and 5 express train at the Church Avenue subway stop providing access to Manhattan in just 25 minutes.
Download link for more information: http://www.terracrg.com/setups/2553_Church_Avenue.pdf
For more information and to discuss this and other Brooklyn assets further, please call my office and speak with me or any members of my team at 718-310-3296."
Eddie Setton | Associate | TerraCRG | 592 Pacific Street, Suite B | Brooklyn, NY 11217 |
T: 718-310-3296 | F: 718-768-6288 | firstname.lastname@example.org | www.terracrg.com
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