1137 Flatbush Ave

Welcome to 1137 Flatbush Avenue, a 3-story mixed-use building property in the bustling neighborhood of Flatbush, Brooklyn.  This income-producing property comprises 4 large free-market residential apartments and two retail units spread across 5,170 sqft. Each residential unit includes (3) bedrooms, a renovated kitchen/ renovated bathroom, and features exposed brick in the bedrooms.   1137 is an excellent acquisition for an investor looking for a property with a stable income and the opportunity to add value. The current cap rate of 6% can be expected to reach 7+% with small increases for the residential units and retail. An investor also has a development opportunity with the property in an R7A/C2-4 zoning, 3,500 SF of additional air rights.  The property is conveniently located near shopping, restaurants, entertainment, and the historic Kings Theatre. The Beverly Road 2 and 5 trains are a five-minute walk. The Cortelyou Road Q train is in close proximity as well.