4 ATTACHED BLDGS - CYPRESS HILLS - 4X 2 APTS OVER 1 COMMERCIAL
Prime assembly of attached brick bldgs in Cypress Hills, each bldg nearly identical, 2 family over 1 commercial each - so 8 apts over 4 commercial total - 2 stories above grade, over basement, NOT rent stabilized. Each bldg is 20 x 68', so combined 80 x 68'. Built in 1930, still a strong structure used for decades by owner-occupant for commercial/warehousing purposes. Best usage is same, an owner-occupant who has a business to operate on ground level and basement, with flexibility to operate in 1, 2, 3, or all 4 adjoined units. They are all separated by party walls with interior doors, so easy to leave connected, or to keep separate. Cameras installed for monitoring / security. Also great for investor who is focused on long-term stability and appreciation. Office space and half bath in rear of 158. High ceilings on ground level. Back yard space. Full finished basements with ceilings appr. 7.5', same footprint as the combined bldgs, 80 x 68', open floor plans apart from walls separate the 4 bldgs, but also with interior open doors to travel within basement from unit to unit. Multiple interior stair access to basement from ground level (150, 152, & 158), conveyor belts from basement to ground, and hatch egress in both front and rear. Currently there's a short-term commercial tenant in 154 & 158 without a lease, can stay or relocate pending buyer's preference. And there's a short-term commercial tenant in 150 with similar arrangement. The apartments are all front and back units, all 2BD/1BA. All good condition, apart from one unit that would benefit from some minor renovations if/when vacated. Of 8 units, 7 are occupied, and will remain occupied at close. Steady long-term tenants. Lot 80.5 x 96.5', or 7,524 SF total, R5 zoning. There are unused air rights should owner ever wish to explore additional development. Only 0.2 mile (4-5 min walk) to J stop at Crescent St on Fulton, B53 bus stop directly on this block, and Q56 bus stop 5 min walk away on Jamaica. Two blocks in either direction for thoroughfares Atlantic Ave or Jamaica Ave. Right in the midst of countless shops, bodegas, salons, laundromat, a Key Foods one block away, and stretch of restaurants on Fulton. This property is an incredible find for the right buyer, who can either lease out the commercial, or operate their own business and generate additional income from the residential units to further offset expenses. Great proximity to everything urban, but located cost-effectively for a business operation. Huge perk to be able to scale the operation up or down based on how much SF is required, with units already neatly partitioned. Schedule a viewing, this will move fast!
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