1 Family, 9 SRO Units & 12 Parking Spaces
1100 Greene Avenue
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TerraCRG has been retained to exclusively represent ownership in the sale of 1100 Greene Avenue. The property consists of: 1 three bedroom free market unit; 9 SRO rooms; 4 indoor parking spaces; and 8 outdoor parking spaces.
When fully occupied the property will have a gross rent roll of ~$147,000/year. This equates to about a 6.5% Cap Rate. The property sits on a massive lot and has ~15,720 Gross Buildable SF. The property will be delivered with 9 of 10 units occupied and 7 of 12 parking spaces occupied.
The building is located near many of the new luxury residential developments in the area, including 1209 Dekalb Avenue (a 120 unit luxury rental project with 24 hour doorman, landscaped courtyard, gym, roof deck, lounges, screening room, rehearsal studios, arcade and shuffleboard courts).