16 & 18 Lenox Road Unit #12, Brooklyn, NY 11226

Property Description

Calling All Investors, Developers, & End-Users!!! 100% Occupied 12 Unit Free Market Apartment Building In Brooklyn For Sale!!! The Property Features Excellent Signage, Great Exposure, R6B Zoning, (7) 2 Bedroom Apts., (5) 1 Bedroom Apts., Security Camera System, High 9’ Ceilings, Basement, Separate Meters, 6 Parking Spaces, 3 Phase Power, All New LED LIghting, A/C, +++!!! The Property Is Located In The Heart Of Flatbush Just Off Rt. 27 Near The Brooklyn Museum, Kings Theatre, Prospect Park & Just Minutes From I-278!!! Neighbors Include Chase Bank, USPS, Safeguard Self Storage, Target, Foot Locker, Old Navy, Planet Fitness, AT&T, Boost Mobile, Dunkin’, Key Food, H & R Block, Walgreens, McDonald’s, Popeye’s Louisiana Kitchen, Domino’s Pizza, CVS, +++!!! The Entire Building Underwent A Gut Renovation In 2024!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Apt. 1: $26,400 Ann.; Lease Exp.: 11/30/26. Apt. 2: $30,000 Ann.; Lease Exp.: 5/31/27. Apt. 3: $30,300 Ann.; Lease Exp.: 12/31/26. Apt. 4: $30,000 Ann.; Lease Exp.: 10/31/26. Apt. 5: $39,000 Ann.; Lease Exp.: 5/31/26. Apt. 6: $27,600 Ann.; Lease Exp.: 9/30/26. Apt. 7: $28,800 Ann.; Lease Exp.: 10/31/25. Apt. 8: $36,000 Ann.; Lease Exp.: 7/3/26. Apt. 9: $26,400 Ann.; Lease Exp.: 9/30/25. Apt. 10: $30,000 Ann.; Lease Exp.: 12/31/26. Apt. 11: $36,000 Ann.; Lease Exp.: 6/30/26. Apt. 12: $27,600 Ann.; Lease Exp.: 4/30/27. Gross Income: $368,100 Ann. Expenses: LHP: $9,108.05 Ann. Insurance: $ 7,200 Ann. Cleaning & Maintenance: $3,600 Ann. Security System/Cable: $632.64 Ann. Water: $3,929.23 Ann. Taxes: $71,895.92 Ann. Total Expenses: $96,365.84 Ann. Net Operating Income (NOI): 274,731.16 Ann.