229 Utica Ave

A rare opportunity to own a three-story Mixed-use investment property in one of Brooklyn's most rapidly growing Corridors. This solid Mix-used building consists of 2 three-bedroom residential apartment and 1 ground- floor commercial unit. Sitting on a 20ftx80ft lot with a building of 20x80ft(store front) and 20x55(residential units). Enjoys a phenomenal cap rate of around 7.6% income potential. This property is in great condition. Ideal for investors, developers or owner-users seeking strong income potential and maximum flexibility. Located on a high-traffic stretch of Utica Ave in the heart of Crown Heights Brooklyn. Surprisingly low property tax $4774/year and the annual insurance cost is about $3360, plus the water bill is only $1800/year, making this property even more financially attractive. The property benefits from exceptional foot traffic, strong visibility and long-term neighborhood demand. Don't miss your chance on this once-in-a lifetime real estate treasure. Surrounded by all forms of transportation, thriving business and schools.