REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listing Courtesy of Douglas Elliman Real Estate
$ 2,475,000
Est. payment /mo
New
1341 FULTON Street Brooklyn, NY 11216
2 Beds
4 Baths
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision Bedford-Stuyvesant
MLS Listing ID RLS20092177
Bedrooms 2
Full Baths 4
HOA Y/N No
Year Built 1910
Annual Tax Amount $3,144
Property Sub-Type Mixed Use
Property Description
1341 Fulton Street is a fully occupied corner mixed-use building on one of Brooklyn's most bustling commercial corridors, offered at a 6.5 percent cap rate with strong in-place cash flow and meaningful unused air rights. The commercial space is a ground-floor corner storefront spanning 1,000 SF wit h an additional 1,000 SF basement - currently occupied by an established business with over a decade of continuous operation at this location. The commercial lease carries 3 percent annual rent escalations. Three residential apartments occupy the upper floors: a 1-bedroom duplex, a junior one-bedroom, and a studio. Renters pay their own heat, keeping operating costs lean and NOI strong. Gross annual income of $162,820 supports a net operating income of approximately $148,726 after real estate taxes, insurance, water and sewer, and BID charges. The property is self-managed with no current vacancy. Located at the corner of Fulton Street and Verona Place, the building benefits from high pedestrian and vehicular visibility in both directions. Transit access is exceptional: The LIRR is two blocks away; the A/C express at Nostrand Avenue is one block . Unused FAR under R7D/C2-4 zoning presents a clear path to expansion for an owner-user or long-term hold investor. The property is well suited for a 1031 exchange. All information deemed reliable but not guaranteed. Prospective purchasers are advised to independently verify all figures.
Location
State NY
County Kings
Rooms
Basement Other
Interior
Interior Features Smoke Free
Fireplace No
Laundry Building Other
Exterior
View Y/N No
View Other
Porch None
Private Pool No
Building
Dwelling Type Mixed Use
Story 3
New Construction No
Others
Pets Allowed Pets Allowed
Tax ID 01850-0051
Ownership None
Monthly Total Fees $262
Special Listing Condition Standard
Pets Allowed Building Yes, No
RLS Data display by The Jintoorkar Team