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115 Erasmus St 27 Unit Apartment Building $10,250,000 ($379,630/Unit) 6.50% Cap Rate Brooklyn, NY 11226
Executive Summary
115 Erasmus Street presents the opportunity to acquire a modern multifamily asset in Brooklyn's Flatbush neighborhood. Constructed in 2015, the property offers contemporary construction within an established residential market that benefits from access to public transportation, neighborhood retail, educational institutions, and the broader employment centers of Brooklyn and New York City.
Property Facts
| Price | $10,250,000 | Building Class | B |
| Price Per Unit | $379,630 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 21,377 SF |
| Cap Rate | 6.50% | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.2 | No. Stories | 7 |
| No. Units | 27 | Year Built | 2018 |
| Property Type | Multifamily | Parking Ratio | 0.65/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | R6 - Medium-density residential district; apartment and multifamily housing allowed. | ||
| Price | $10,250,000 |
| Price Per Unit | $379,630 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Gross Rent Multiplier | 13.2 |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 21,377 SF |
| Average Occupancy | 100% |
| No. Stories | 7 |
| Year Built | 2018 |
| Parking Ratio | 0.65/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R6 - Medium-density residential district; apartment and multifamily housing allowed. |
Amenities
Unit Amenities
- Dishwasher
- Microwave
- Stainless Steel Appliances
Site Amenities
- Fitness Center
- Laundry Facilities
- Bicycle Storage
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 708 |
| 2+1 | 9 | - | 984 |
| 3+2 | 2 | - | 1,160 |
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Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 05105-0076 | Improvements Assessment | $1,907,100 |
| Land Assessment | $337,500 | Total Assessment | $2,244,600 |
Property Taxes
Parcel Number
05105-0076
Land Assessment
$337,500
Improvements Assessment
$1,907,100
Total Assessment
$2,244,600
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115 Erasmus St