2802 Clarendon Road

GFI Realty Services LLC is pleased to present the exclusive offering of 2802 Clarendon Road (aka 301-311 East 28th Street), a corner pre-war (4)-story walk-up apartment building comprised of thirty-eight units located in the Flatbush section of Brooklyn. The asset was constructed in 1931 and totals 32,800 sf. The building occupies a 10,000 sf lot. The property is ideally situated on a quiet street lined with semi-detached single and two-family homes as well as similarly constructed low rise apartment buildings. The units are configured as twenty-five (1)-bedroom, twelve (2)-bedroom and one (3)-bedroom apartment. Some of the units have been upgraded with high-end finishes including stainless steel appliances and hardwood floors. The asset has been under the same ownership for over 30 years. The property has been impeccably maintained and kept in good working condition. With an average monthly rent of $942, well below the Flatbush average of $2,665/mo., purchasing this asset affords a new owner tremendous upside. The property is located right in the heart of Flatbush, in close proximity to all that the area has to offer. The asset is just blocks from Flatbush Avenue, the main commercial corridor in the area that is home to countless local and national retailers. The Prospect Park Parade Ground and Prospect Park Lake are just a short walk away from the property. Brooklyn College, the Brooklyn Junction, Kings Theatre and the Newkirk Plaza are all just minutes away from the building. The property is also easily accessible to Midtown Manhattan via the B, 2 & 5 subway lines; residents can be in Midtown with an hour. The 2 & 3 subway lines are conveniently located just two blocks away on Nostrand Avenue. This asset provides a great opportunity for a future investor to acquire a well maintained stable asset in a prime area while also providing for tremendous short and long term upside due to the below market rents. Residents continue to flow into Flatbush, attracted to the area’s affordability and “neighborhood” feel.