1512 Pitkin AveBrooklyn, NY 11212

This three-story, 7,503 square foot mixed-use apartment building at 1512 Pitkin Avenue in Brooklyn, New York, presents a compelling investment opportunity. Built in 1930 and situated on a 2,323 square foot lot (APN: 03514-0036), the property boasts nine units, currently operating at 100% occupancy, generating a Net Operating Income (NOI) of $208,584, and a 7.10% capitalization rate. Pro-forma projections indicate a potential NOI of $228,648 and a 7.80% cap rate. The building is classified as Class B and operates under a gross lease structure. All nine apartments have undergone renovations, including updated kitchens and bathrooms. The property is zoned C4-3. Its convenient location in the Brownsville neighborhood offers excellent access to public transportation, with the Rutland Rd & E. 98th St (Line 3) subway station just 0.025 miles away and the Saratoga Av/Pitkin Av (Line B7) bus stop a short 0.352 miles from the building. Nearby amenities include a Pizza Hut, Shoppers World, and a McDonald's. The asking price is $2,900,000, translating to a price per square foot of $386.51. This property offers a strong foundation for immediate cash flow and potential for future appreciation.