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130 Montague St 11 Unit Apartment Building $5,495,000 ($499,545/Unit) 7.50% Cap Rate Brooklyn, NY 11201
Investment Highlights
- 11-Unit Mixed-Use Asset with Two Established Commercial Tenants & 9 Residential Apartments
- Clear Value-Add Opportunity with Residential Units rented approximately 17–40% Below Market | $455,942+ Pro Forma NOI
- Positioned along the Premier Montague Street Retail Corridor in Brooklyn Heights — NYC’s First Landmarked Historic District
- Strong In-Place Cash Flow generating $414,373 Current NOI | 7.5% In-Place Cap Rate at $5,495,000 Asking Price
- Located within an Opportunity Zone, offering potential Long-Term Tax Advantages & Embedded Appreciation Potential
- Steps from the Borough Hall Station (2/3/4/5/r Trains)
Executive Summary
The New York Multifamily Group at Marcus & Millichap is pleased to exclusively present 130 Montague Street, an 11-unit mixed-use property located along the premier retail corridor of Brooklyn Heights — New York City’s first landmarked historic district. The asset features two established commercial tenants and a collection of residential apartments, generating $414,373 in current NOI with a clear value-add opportunity to achieve $455,942+ pro forma NOI. Positioned on highly coveted Montague Street, the property benefits from exceptional foot traffic, affluent demographics, and one of the strongest neighborhood retail corridors in Brooklyn. Surrounded by national and boutique retailers, premier dining, and luxury residential housing, 130 Montague Street offers investors durable in-place cash flow within an irreplaceable brownstone neighborhood.
The offering presents a rare opportunity to acquire a trophy mixed-use asset in one of New York City’s most supply-constrained submarkets, with additional upside through mark-to-market opportunities and continued long-term growth in both the retail and residential income streams. The property also benefits from outstanding accessibility, with immediate proximity to multiple subway lines providing seamless connectivity to Downtown Brooklyn, Manhattan, and the greater New York City area.
The offering presents a rare opportunity to acquire a trophy mixed-use asset in one of New York City’s most supply-constrained submarkets, with additional upside through mark-to-market opportunities and continued long-term growth in both the retail and residential income streams. The property also benefits from outstanding accessibility, with immediate proximity to multiple subway lines providing seamless connectivity to Downtown Brooklyn, Manhattan, and the greater New York City area.
Property Facts
| Price | $5,495,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $499,545 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 7.50% | Building Size | 7,569 SF |
| Gross Rent Multiplier | 8 | No. Stories | 4 |
| No. Units | 11 | Year Built | 1900 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | R7-1 - R7 districts are medium-density apartment house districts | ||
| Price | $5,495,000 |
| Price Per Unit | $499,545 |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| Gross Rent Multiplier | 8 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 7,569 SF |
| No. Stories | 4 |
| Year Built | 1900 |
| Opportunity Zone |
Yes |
| Zoning | R7-1 - R7 districts are medium-density apartment house districts |
Amenities
Unit Amenities
- Heating
- Eat-in Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 11 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 00249-0026 | Improvements Assessment | $1,376,550 |
| Land Assessment | $337,500 | Total Assessment | $1,714,050 |
Property Taxes
Parcel Number
00249-0026
Land Assessment
$337,500
Improvements Assessment
$1,376,550
Total Assessment
$1,714,050
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