$3,500,000
Active
1 days on market
685 Franklin Ave
📍 Crown Heights, Brooklyn, NY 11238
18.0
Beds
14.0
Baths
Multi-family
Type
About this property
Prime Crown Heights Corner Asset With Durable Income and Built-In Upside 685 Franklin Avenue offers a rare opportunity to acquire a prominent corner mixed-use building in the heart of Crown Heights, just moments from Prospect Park. Set on a 2,790-square-foot lot, the property comprises 14 rent-stabilized apartments, one commercial space, and one garage. The residential mix includes 2 studios, 6 one-bedrooms, and 6 two-bedrooms, providing diversified and dependable in-place income. The commercial space is secured by a long-term lease and is undergoing a complete gut renovation, enhancing the property's value and strengthening its overall income profile. Significant capital improvements
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Amenities & features
Key facts
Gut renovation
Gas metering
Commercial space
Property details
Property typeMulti-family
Listing statusActive
Lot size2,700 sqft
Days on market1 days
MLS #RLS20107412
Estimated monthly payment
Listing price$3,500,000
Down payment (20%)$700,000
Loan amount$2,800,000
Principal & interest (7%, 30yr)$18,628/mo
Property tax (est.)$3,403/mo
Home insurance (est.)$1,458/mo
Estimated total$23,489/mo
Estimates only. Contact a lender for accurate figures. Does not include closing costs or PMI.