$1,600,000
Updated 8 years ago
Off Market
424 Gates Ave
Bedford Stuyvesant, Brooklyn | Nostrand Ave & Marcy Ave
3,600 Square FeetMixed Use
$1,600,000
floors / apts3 / 2
Lot Size20'x100'
Built Size20'x45'
Building TypeLow-Rise
RE Taxes$2,560
Price Per SF
$444
Outdoor space and views
- Backyard
- Balcony
Building Amenities
- Voice Intercom
- Garden
Property Description for 424 Gates Ave
*Open House this Sunday from 2pm-330pm!* Investor's dream- cash flow positive from day one!This is a three story mixed-use building with ground floor commercial space and two rental units above. Can be delivered vacant or continue current leases. Currently the commercial space is being used as the art gallery "American Medium". The backyard garden has been beautifully landscaped. Second and third floors are both two-bedroom apartments with balconies, that have been recently renovated. Gross rent roll is 2,500$/per unit, $7,500 total. Each unit has its own meter and renter pays own utilities. Great investment opportunity!!!Located just a few blocks from the G train at Bedford-Nostrand and the AC train at Nostrand, this building is ideally situated in central Bedford-Stuyvesant. Lot size is 20 x 100 ft. Building is 20 x 45ft. Can be delivered vacant.
Building Details for 424 Gates Ave
OwnershipMixed Use
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1899
Floors/Apts3/2
Transit and Citi Bike
Subway
Bedford-Nostrand Avs
0.33 miles
Nostrand Av
0.4 miles
Citi Bike
Marcy Ave & Gates Ave
0.1 miles
Putnam Ave & Nostrand Ave
0.15 miles
Bedford Stuyvesant | Brooklyn
Quick Profile
Known for its historic brownstones and tight-knit enclave, Bed-Stuy has increasingly left behind its early reputation for being a “bedroom community” and transcended into a highly desirable neighborhood.
Distinct for its aesthetic, it is populated with ornate buildings characterized by cornices, friezes, finials, fluting and other marks of classic architecture. Built up during the period from 1870 to 1900, its historic district runs to the north of Jefferson Avenue, to the east of Malcolm X Boulevard and to the west of Tompkins Avenue.
At one point known as “Brooklyn’s Little Harlem,” the shape of the area has shifted toward attracting a wider demographic of people thanks to the influx of bars, restaurants, antique furniture stores and vintage boutiques. More police enforcement paired with the decline of the crack epidemic at the beginning of the 2000s also opened the door for increased development, as well as the occupation of formerly abandoned buildings and spaces.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 69622TH
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