232 Kingsland Ave, Brooklyn, NY 11222

Unlock the Investment Potential at 232 Kingsland Ave, Brooklyn, NY 11222 Offered at $2,400,000 This prime property in the heart of Greenpoint offers an exceptional opportunity for investors and developers alike. Nestled in one of Brooklyn’s most sought-after neighborhoods, this property boasts: • Unmatched Location: Situated near the vibrant amenities of Greenpoint, with easy access to parks, dining, and public transportation. • Tremendous Potential: Ideal for redevelopment, rental income, or transforming into a high-end residence. • Size & Layout: Spacious layout with ample possibilities for customization and maximizing value. Don’t miss your chance to capitalize on this rare opportunity to own a piece of Brooklyn real estate in a thriving area. Key Features: Vacancy Opportunity: Two owner-occupied units (1L & 1R) will be delivered vacant, offering the potential to generate $3,000+/month each post-renovation, with higher rents possible depending on finishes. Current Rent Roll: Unit Breakdown: Unit 1L Owner occupied ($3,000 potential rent) Unit 1R: Owner-occupied ($3,000 potential rent) Unit 2L (Rent-Stabilized): $2,196.15/month (Lease in place) Unit 2R $2,250/month (Month-to-month) Unit 3L (Rent-Stabilized): $2076.04 (Renewed Lease starting 3/14/2025) Unit 3R : $2,250/month (Month-to-month) Separate Electrical Meters and Gas Meters- Each unit has its own meter for simplified utility billing. Potential Upside: Renovated units can achieve market rents exceeding $3,000/month, enhancing the property's income potential. Financial Highlights: Total Annual Operating Expenses: $17,575 Current NOI: $85,025 Post-Renovation NOI: $156,785 Cap Rate: Water 6.53% (projected) Water: I $3,000 Insurance: $6,315 Real estate Taxes: $6,750 Total Operating Expenses: $24,325 Prime Location: Situated near the G train (Nassau Avenue) and L train (Graham Avenue), this property offers seamless access to Manhattan and other parts of Brooklyn. Surrounded by parks, trendy restaurants, and boutique shops, it's a highly desirable location for tenants seeking both convenience and lifestyle. Why Invest? Whether you're exploring a 1031 exchange or expanding your portfolio, this property is the perfect blend of stability and growth. Rent-stabilized units ensure steady income, while market-rate units offer flexibility and room for adjustments. The dynamic Greenpoint neighborhood further enhances the property's long-term appreciation potential. Don't Miss Out!With its incredible versatility and upside, 232 Kingsland Avenue is a rare find. Schedule your private tour today to explore the possibilities this property. Note: All information is deemed reliable but not guaranteed and should be independently verified.