Description

Welcome to 109 Winthrop Street; located in prime Prospect Lefferts Gardens, Brooklyn. This elevator operated building is comprised of eight (8) residential rentals and two (2) community facility spaces on the ground floor. The property was constructed in 2018 and is fully occupied. The community space is currently occupied by a child daycare facility. Located on the corner of Bedford and Winthrop street, the building spans a total of 11,000 square feet. There is a total of three 2-bedroom (2BR) 1-bathroom (1Bath) units and five 3-bedroom (3BR) 2-bathroom (2Bath) units. Onsite amenities include a package room, bike room and in-building laundry. Each unit is separately metered for convenience. The net operating expenses are approximately $382,000 which equates to a cap rate of approximately 5.2%. The property has been issued final certificate of eligibility for the industrial and commercial abatement program for a period of 25 years, as well as a 421A 15-year tax abatement issued on April 24th 2019. With a location three-blocks from Prospect Park and two-blocks from the 3,4,5 and Q trains, you can't go wrong with this investment!