$1,998,000
Updated 2 years ago
Sold

7315 3rd Ave

Bay Ridge, Brooklyn | 72nd Street & 73rd Street

16 Rooms4 Beds6 Baths3,000 Square FeetMixed Use

$1,998,000
floors / apts3 / 4
Lot Size20'x100'
Built Size20'x50'
ZoneR6B
Building TypeLow-Rise
RE Taxes$14,509
Price Per SF
$666

Listing Features

  • Baseboard Heat

Outdoor space and views

  • Backyard

Building Amenities

  • Voice Intercom
  • FIOS

Property Description for 7315 3rd Ave

[ONLY CASH BUYERS] Introducing a Semi-Detached Mixed-Use investment property located in the most desired and wanted neighborhood, Bay Ridge. The property has a Building Size of 20x50 sitting on a 20x100 lot. Taxes are $14,509/year. This stunning property consists of one prime commercial store with an extension on the ground floor and 4 residential 1-bedroom units above in well-maintained and excellent condition at a free-market rent. This investment property also features a full basement for storage and a spacious backyard with a brand-new boiler, and roof. The Commercial Store has a 3-year left from the lease which states that the current tenant is responsible for 50% of the taxes and 67% of the water bill. What's more excellent about this property is that it generates a gross income of $139,560, after a total expense of $21,609/year, the building still generates a CAP Rate of 5-6% a year. The location of this property brings add-in value due to the heavy foot and car traffic. Near to all shopping, restaurants, and all kinds of transportation. This would be perfect for someone looking to grow and expand a business and someone looking to get a stream of income! Please have the pre-approval or proof of funds ready before showing per the owner's request. Won't Last!

Listing History for 7315 3rd Ave

Now
09/04/2024
$1,998,000
Sold and Closed by Karla Ng Mok
Century 21 Realty First
07/08/2024
Contract Signed by Karla Ng Mok
Century 21 Realty First

Building Details for 7315 3rd Ave

OwnershipMixed Use
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1915
Floors/Apts3/4
Learn More About the Building

Transit and Citi Bike

Subway

77 St
0.2 miles
Bay Ridge Av
0.27 miles

Citi Bike

4 Ave & 72 St
0.15 miles
73 St & Ridge Blvd
0.16 miles

Contact Agents

Contact Agents

Karla Ng Mok
Century 21 Realty First
Anthony Frazzetta
Century 21 Realty First

Bay Ridge | Brooklyn

Lush front yards and trimmed hedges are pretty common in Bay Ridge.

Quick Profile

Bay Ridge is an old-world neighborhood neatly tucked into the southwest corner of Brooklyn within the shadows of the Verrazano Bridge. The neighborhood is encircled by the Belt Parkway along the shore line and the Gowanus Expressway inland.

Bay Ridge, long known for its generational pull, has historically been home to a diverse number of ethnic groups. While the area is flush with people of Irish, Italian and Greek descent, these ethnic communities have been joined by larger numbers of new groups, including people with Russian, Polish, Asian and Middle Eastern backgrounds. The Arab American community today in Bay Ridge represents the largest concentration of Arab Americans in New York City.

For many years, Bay Ridge and its waterside location, would attract the affluent. But most of the mansions that once lined Shore Road are long gone and have been replaced by six-story apartment buildings.  

Aside from the low-rise apartment buildings, the neighborhood pretty much consists of one and two-family homes. Lush front yards and trimmed hedges are pretty common here.  

Current zoning and limitations on building heights restrict any out of the norm development. At present, the future beholds small development on some of the commercial strips and teardowns of older homes for smaller residential projects.

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: 68436TH