Description

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MIXED USE BUILDING WITH HIGH CAP RATE, IN VERY DESIRABLE WINDSOR TERRACE LOCATION!

Welcome to 1663 10th Avenue, a versatile and income-generating property located in the heart of Windsor Terrace, one of Brooklyn's most desirable and family-friendly neighborhoods. This outstanding three-story building offers an Excellent Investment Opportunity for Both Investors and End-Users Alike, featuring a mixed-use layout with two generously-sized residential units and a commercial space, all separately metered for utilities. Located on a very quiet, tree-lined street, 4 blocks from Prospect Park, 3 blocks to F/G trains, and 1 block to P.S. 154. Owned by the same family for almost 60 years, this cherished home has been very well maintained.

The ground floor commercial unit has a separate entrance, and is currently leased to a quiet, well-established and long-standing dental office, with a robust lease in place, providing stable and predictable income for years to come. This long-term tenant adds significant value to the property, making it an ideal choice for buyers seeking a low-maintenance investment with immediate returns. The space is well-maintained and professionally operated. A full basement, easily accessed through the building's main hallway, provides a large windowed office area, and separate storage space, along with access to the building's entrance to the backyard. 

11-foot lobby ceilings usher you into the two residential units of the building. Each unit provides almost 1,000 sq. ft. of living space, 2- & 3-bedroom layouts, with open kitchens, separate dining areas, walk-in closets, and 1 bathroom. Hardwood floors run throughout, and handsome woodwork frames the windows and doorways. All units are updated with split A/C units. 9 1/2-foot ceilings on the second floor, and almost 9-foot ceilings on the third floor, along with oversized windows, offer picturesque views of 10th Avenue from the front of the building & expansive New York Harbor views in the back of the building. Keep the rental units as is, or update to maximize monthly income.

The 2nd floor residential unit is currently rented below market value, with a lease extending through December 2026. This presents a future opportunity to increase rental income. The top floor unit is vacant, offering flexibility for a new tenant or owner-occupant. Whether you're looking to live in one unit while collecting rent from the others, or fully lease out the building for maximum returns, the configuration supports a variety of strategies. The two residential units can also be combined, and reimagined as an owners duplex, with monthly passive income. See proposed floorplan.

Situated in the heart of Windsor Terrace, 1663 10th Avenue offers a highly sought-after location. This tranquil and charming neighborhood, along with the conveniences that it offers, appeals to both investors and owners. The block and neighborhood feature like-kind, three story buildings, that maintain the neighborhood's allure. This location provides easy access to trains, the Prospect Expressway, and multiple city bus lines. Terrific shopping, dining and entertainment at your fingertips. Enjoy Windsor Terraces many cafes, and ever-growing restaurant and nightlife scene, and Prospect Parks Farmers Market on Wednesdays & Sundays.

This turnkey property's high cap rate, its prime location, stable commercial lease, and potential for rental growth, make 1663 10th Avenue a compelling opportunity for those looking to invest in Brooklyn real estate, or establish a live/work lifestyle in a vibrant community!
Building set-up available upon request. Reach out to schedule your private appointment.
Listing courtesy of Corcoran Group ...
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