113 Brighton 11th St
Listing Notes
Turn Key - Brighton Beach 5 Unit Mixed-Use FREE MARKET Property Available Now. Currently a 7 Cap Rate Here's a rare opportunity to acquire a well-positioned three-story mixed-use building in the heart of Brighton Beach, Brooklyn. Located just a short distance from Brighton Beach Ave, this building is a total of 4,560 sq ft, a 20' by 76' building sitting on a 20' by 90' lot. The property includes 5 residential apartment units, each featuring the same one-bedroom layout, along with one ground-floor commercial space offering street visibility. Four out of five apartments are rented and are each paying $1,900 a piece. The tenants are great and have been there for a long time so the current owner has given them a bit of a discount. No one is currently on leases. The commercial space is currently being rented by a shipping company for $2,100 per month. Again, they've been there for a while and have been great tenants so the rent could be raised. Expenses Currently Annually are... $3,100 - for the gas/heat bill $2,880 - Electric $2,592-Water Taxes - $28,466 Total expenses are $37,036 per yr. Total Income as is at $139,200 per yr. Currently just under a 7 cap. Proforma numbers would be $156,000 in income immediately, raising it to an 8 Cap Rate. The large unit sizes, solid layout, and flexible configuration provide room for long-term value creation. The commercial space can support a range of uses, depending on the new owner's vision and updates. This is a strong option for any party looking to acquire and improve a classic Brooklyn asset in a well-connected and good location. With increasing demand throughout Brighton Beach and continued neighborhood growth, this property offers the scale, location, and layout to deliver reliable performance over time. Property is being sold as-is.
Price in context
Cheaper than 25% of the 24 homes listed nearby right now, which run $714,900 to $1,450,000.
See all 24 nearby listings
| Address | Asking | Size |
|---|---|---|
| 60 Oceana Dr W Apt 5J | $714,900 | 2 bd · 1 ba |
| 75 Oceana Dr E Apt 1H | $747,000 | 1 bd · 2 ba |
| 65 Oceana Dr E Apt 7A | $749,900 | 2 bd · 2 ba |
| 8A Brighton 10th Ct | $798,000 | 4 bd · 2 ba |
| 45 Oceana Dr E Apt 7E | $799,000 | 2 bd · 2 ba |
| 35 Seacoast Ter Apt 3B | $799,000 | 2 bd · 2 ba |
| 55 Brighton 10th Ct Unit A | $850,000 | 4 bd · 5 ba |
| 70 Oceana Dr W Apt 5E | $859,000 | 2 bd · 2 ba |
| 3435 Guider Ave Apt 5A | $899,000 | 3 bd · 1 ba |
| 40 Oceana Dr W Ph 2E | $949,000 | 3 bd · 2 ba |
| 60 Oceana Dr W Unit 1A | $959,000 | 2 bd · 2 ba |
| 45 Oceana Dr E Unit 48 | $978,000 | 2 bd · 2 ba |
| 196 Brighton 10th St | $1,100,000 | 4 bd · 3 ba |
| 38 Corbin Pl | $1,100,000 | 2 ba |
| 1018 Ocean View Ave | $1,199,000 | 8 bd · 3 ba |
| 45 Oceana Dr E Apt 8A | $1,199,000 | 2 bd · 2 ba |
| 3063 Brighton 14th St | $1,200,000 | 7 bd · 3 ba |
| 115 Neptune Ave | $1,249,000 | 8 bd · 5 ba |
| 20 Corbin Pl | $1,298,000 | 3 bd · 3 ba |
| 27 Cass Pl | $1,299,000 | 5 bd · 3 ba |
| 65 Oceana Dr E Apt 9B | $1,349,000 | 2 bd · 2 ba |
| 134 Brighton 11th St | $1,350,000 | 3 bd |
| 60 Oceana Dr W Apt 4I | $1,359,000 | 3 bd · 3 ba |
| 10 Brighton 10th Ct | $1,450,000 | 9 bd · 3 ba |
Where it is
For sale Coming soon Recently sold— zoom out for more