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Queens auction boasts positive cash flow.

When a residential real estate investor investigates a property, the first thing he looks at is cash flow. Today, however, monthly rental income rarely surpasses the monthly cost for the property. But at Kings Village, the popular cooperative community in the Flatlands of Brookly, positive cash flow is a reality.

On Sunday, the 26th of July, 25 destabilized Kings Village apartments will be offered for auction by Carlton Property Auctions. Almost all of these units presently have tenants with either short term or month-to-month leases and rentals that exceed their maintenance costs. The residences will be offered either in packages or in bulk and are expected to sell well below their market value.

Kings Village currently has over 50% of its units sold. The auction will also be offering several vacant units to residential purchasers.

Kings Village is a five building, mid-rise complex with newly refurbished lobbies, landscaped courtyards and on-site security. A wide selection of studio, 1, 2 and 3 bedroom apartments are available. Kings Village is located near Brooklyn's largest shopping center, Kings Plaza Shopping Mall, as well as the beaches and parks of the Gateway National Recreation Area.
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Title Annotation:Kings Village cooperative community in Brooklyn, New York
Publication:Real Estate Weekly
Date:Jul 15, 1992
Previous Article:Gelt Funding opens CT office.
Next Article:Passive loss passes house.

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