1262 Sterling Place

Description

Calling All Investors, Developers, & End-Users!!! Brand New 100% Occupied 3 Unit Free Market Apartment Building In Crown Heights For Sale!!! The Property Features Excellent Signage, Great Exposure, Strong R6/C1-3 Zoning, 6 Parking Spaces, High 8' Ceilings, Separate Meters, Gated Yard, Low Property Taxes, Motion Sensor Lights, All New LED Lighting, 200 Amp Power, A/C, +++!!! The Property Is Located In The Heart Of Crown Heights 2 Blocks From Eastern Parkway!!! The Property Was Fully Renovated In 2023!!! The Property Is Situated Minutes From The Barclays Center, Brooklyn Children's Museum & The Prospect Park Zoo!!! Neighbors Include USPS, UPS, The Home Depot, Dunkin', CubeSmart Self Storage, Walgreens, AutoZone, Bank Of America, Planet Fitness, Blink Fitness, GameStop, Baskin-Robbins, Mobil, McDonald's, Mavis Discount Tire, Family Dollar, Wendy's, White Castle, IHOP, KFC, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Unit 1 (3Br. Apt.): $38,400 Ann. Lease Exp.: 9/1/24. Unit 2 (2 Br. Apt.): $30,000 Ann. Lease Exp.: 7/1/24. Unit 3 (2 Br. Apt.): $30,000 Ann. Lease Exp.: 7/1/24. Gross Income: $98,400 Ann. Expenses: Gas: $0 (Electric Only) Electric: $360 Ann. (Hallway Only) Water + Sewer: $1,250 Ann. Insurance: $2,500 Ann. Taxes: $3,841.68 Ann. Total Expenses: $7,951.68 Ann. Net Operating Income (NOI): $90,448.32 Ann.