2145 Ocean Avenue

Description

Calling All Investors, Developers, & End-Users!!! 6.02 Cap 100% Occupied 40 Unit Apartment Building On A Huge 11,000 Sqft. Lot In Brooklyn For Sale!!! The Property Features Excellent Signage, Great Exposure, R7A Zoning, High 9’ Ceilings, 2 Skylights, 4 Stories, 3 Phase Power, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Madison Just Off Kings Hwy. Near Kings Plaza & Minutes From The Belt Pkwy.!!! Neighbors Include T-Mobile, Target, ShopRite, CubeSmart Self Storage, Extra Space Storage, Staples, Petco, T.J. Maxx, CVS, Dunkin’, Walgreens, Burlington, Michaels, CityMD, Meineke Car Care Center, Raising Cane’s, Aldi, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Apt A1: $15,270.72 Ann.; Lease Exp.: 11/30/27. Apt. A2: $14,159.76 Ann.; Lease Exp.: 10/14/26. Apt. A3: $18,852.72 Ann.; Lease Exp.: 8/31/27. Apt. A4: $21,600 Ann. Super. Apt. A5: $16,561.08 Ann.; Lease Exp.: 9/30/27. Apt. A6: $15,529.56 Ann.; Lease Exp.: 5/31/28. Apt. A7: $16,469.28 Ann.; Lease Exp.: 5/31/27. Apt. A8: $17,205.96 Ann.; Lease Exp.: 12/31/27. Apt. A9: $16,978.80 Ann.; Lease Exp.: 5/31/28. Apt. A10: $16,15896 Ann.; Lease Exp.: 4/30/27. Apt. B1: $25,200 Ann.; Lease Exp.: 3/31/27. Apt. B2: $14,675.16 Ann.; Lease Exp.: 8/31/26. Apt. B3: $15,154.92 Ann.; Lease Exp.: 6/30/27. Apt. B4: $23,356.20 Ann.; Lease Exp.: 8/31/26. Apt. B5: $16,860.84 Ann.; Lease Exp.: 7/31/27. Apt. B6: $19,988.88 Ann.; Lease Exp.: 4/30/27. Apt. B7: $15,993.72 Ann.; Lease Exp.: 5/31/27. Apt. B8: $17,700 Ann.; Lease Exp.: 2/28/27. Apt. B9: $12,975.48 Ann.; Lease Exp.: 3/31/27. Apt. B10: $18,171.48 Ann.; Lease Exp.: 11/30/26. Apt. C1: $24,291.96 Ann.; Lease Exp.: 5/31/28. Apt. C2: $16,456.68 Ann.; Lease Exp.: 12/31/26. Apt. C3: $17,556 Ann.; Lease Exp.: 12/31/27. Apt. C4: $12,715.08 Ann.; Lease Exp.: 3/31/27. Apt. C5: $18,776,04 Ann.; Lease Exp.: 11/30/27. Apt. C6: $19,192.08 Ann.; Lease Exp.: 11/30/26. Apt. C7: $19,200 Ann.; Lease Exp.: 4/30/28. Apt. C8: $16,176.60 Ann.; Lease Exp.: 5/31/28. Apt. C9: $19,662.48 Ann.; Lease Exp.: 5/31/28. Apt. C10: $17,987.40 Ann.; Lease Exp.: 1/31/28. Apt. D1: $22,354.08 Ann.; Lease Exp.: 3/31/27. Apt. D2: $17,825.04 Ann.; Lease Exp.: 7/31/26. Apt. D3: $18,112.68 Ann.; Lease Exp.: 12/31/26. Apt. D4: $23,038.92 Ann.; Lease Exp.: 8/31/26. Apt. D5: $17,734.68 Ann.; Lease Exp.: 8/31/26. Apt. D6: $18,355.20 Ann.; Lease Exp.: 5/31/28. Apt. D7: $16,810.44 Ann.; Lease Exp.: 12/31/26. Apt. D8: $17,642.16 Ann.; Lease Exp.: 2/28/28. Apt. D9: $16,823.64 Ann.; Lease Exp.: 5/31/28. Apt. D10: $16,686 Ann.; Lease Exp.: 2/28/27. Gross Income: $716,260.68 Ann. Expenses: Fuel: $43,031.92 Ann. Electric: $2,861.80 Ann. Water & Sewer: $33,764.48 Ann. Insurance: $17,954.11 Ann. Maintenance & Repairs: $19,964.95 Ann. Taxes: $107,930.10 Ann. Total Expenses: $225,507.36 Ann. Net Operating Income (NOI): $490,753.32 Ann. (6.02% Cap!!!)