A Clinton Hill Historic District rare find for any owner-user and/or investor that is interested in doing a 1031 Exchange. This elegant, gilded mansion is located on Brooklyn's "Gold Coast," and it was designed in 1884, at the height of Brooklyn's gilded age. Originally designed and built to attract New York's most affluent residents, this property preserves many of its original divine architectural details that define its charm. A 10-unit building, this property is a great opportunity and a certain investment for a variety of development ideas, as it is situated among some of the most beautiful mansions in Brooklyn and nestled on a wide tree-lined street that has come to define the historic and highly-desirable Clinton Hill. The 6,786 square foot building on the lot features 8 studio apartments; 1-1 bedroom apartment; a ground floor that has 2.5 bedrooms; a basement with clean space for storage (with opportunity for development of livable space); and a spacious backyard. The home also has an impeccably kept mahogany staircase that retains the splendor of its original era and a grand foyer that takes you back to another era, uniquely designed with stained glass and restored sunlit units. A must see – this property offers endless opportunities, including the development of a home work space with street access. Conveniently located, 316 Clinton Avenue is close to the Barclay's Center, the Brooklyn Academy of Music, Saint Joseph's College, public transportation, and so much more!


Property Type: Multi-Family
Year Built: 1905
Level Number: 3
Max Continuous Area: 6,786
Min Divisible Area: 6,786
Sub-Lease: 10
Zoning: R6B
Cap Rate Percentage: 3.91
Listing ID: R7C5V2
MLS ID: CBRC316
Additional MLS: 427865
Style: Multi-Family (5-20 Units)
Building Size: 6,786 SF
Lot Size: 3383 SF
Available Date: Mar 8th, 2019
Taxes: $22,400
Area Description

Region: Brooklyn

Region: Clinton Hill

Region: United States

Region: New York

Property Features
Full Bath: 10
Location Name: Clinton Hill
Fee 1 Type: Insurance
Fee 1 Frequency: Annual
Fee 1 Amount: $6,100
Fee 2 Type: Est Fuel $ Yr
Fee 2 Frequency: Annual
Fee 2 Amount: $4,150
Fee 3 Type: Est Water/Sewer
Fee 3 Frequency: Annual
Fee 3 Amount: $5,200
Fee 4 Type: Electric
Fee 4 Frequency: Annual
Fee 4 Amount: $1,575
Flooring: Hardwood
Area Description: Metropolitan
Road Type: City / Town Street
Appliances: Range / Oven, Refrigerator
Exterior Description: Brick
Financials
Gross Income: $188,023
Expenses: $39,425
Additional Media