Investment Overview

293 Grand Avenue is a substantial 9-unit mixed-use property located in the heart of Clinton Hill. Spanning approximately 10,500 square feet, the building features eight oversized residential units above a full-building retail component occupying the entire basement level, offering meaningful scale and income diversification. Six of the eight apartments are Free Market, providing immediate upside through light value-add renovations. The property currently operates at a 6.6% cap rate, with a clear path to an 8.8% cap on cost by investing approximately $20,000 per unit. Each residential unit is a true four-bedroom layout, averaging over 1,115 square feet net, a highly attractive and durable unit mix for the submarket. One unit remains rent-stabilized and vacant, offering additional flexibility for a new owner. Taxes are exceptionally low at $18,059 annually and benefit from the protected 2B tax class, ensuring long-term stability and insulation from outsized increases. 293 Grand Avenue offers scale and flexibility that are increasingly hard to find in Clinton Hill. With strong in-place cash flow, low and stable taxes, and a clear renovation plan to improve returns, this property is well suited for an investor focused on both current yield and long-term fundamentals.