1922 Fulton St

This 18-foot-wide, three-story mixed-use building consists of a ground-floor convenience store, a renovated three-bedroom, 1.5-bath floor-through apartment on the second floor, and two apartments on the third floor, including a front one-bedroom and a rear two-bedroom unit. Built approximately 15 years ago, the property features updated units with wood flooring, granite countertops, stainless steel appliances, excellent natural light, and individual gas and electric metering. Tenants are responsible for their own heat and hot water, supported by three separate boilers and water heaters.

The property offers an attractive user opportunity, allowing an owner to utilize the ground-floor space for an office, grocery store, restaurant, beauty salon, or clothing boutique while occupying the second-floor apartment and generating income from the third-floor units. It is also a strong investment opportunity, with the retail space suitable for lease to a local grocery chain or restaurant, the second-floor apartment capable of achieving approximately $3,000 per month, and the third-floor units renting for an estimated $2,000 to $2,300 per month each. Located on a high foot-traffic street with easy access to the C train at Ralph and Fulton Streets, the property also presents a compelling development opportunity, as zoning allows for a new 7,560-square-foot building with commercial space on the lower floors and residential floor-through units above, up to a ten-story height limit. Additionally, the apartments are rent stabilized under the 421-a tax abatement until expiration, and the property carries an assumable $2.2 million mortgage at a 5.5% interest rate.