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16-18 Lenox Rd 12 Unit Apartment Building $4,650,000 ($387,500/Unit) 5.84% Cap Rate Brooklyn, NY 11226
Investment Highlights
- Calling All Investors, Developers, & End-Users!!! 100% Occupied 12 Unit Free Market Apartment Building In Brooklyn For Sale!!!
- The Property Is Located In The Heart Of Flatbush Just Off Rt. 27 Near The Brooklyn Museum, Kings Theatre, Prospect Park & Just Minutes From I-278!!!
- The Entire Building Underwent A Gut Renovation In 2024!!!
- The Property Features Excellent Signage, Great Exposure, R6B Zoning, (7) 2 Bedroom Apts., (5) 1 Bedroom Apts., Security Camera System, +++!!!
- Neighbors Include Chase Bank, USPS, Safeguard Self Storage, Target, Foot Locker, Old Navy, Planet Fitness, AT&T, Boost Mobile, Dunkin’, +++!!!
- This Property Offers HUGE Upside Potential!!!
Executive Summary
Calling All Investors, Developers, & End-Users!!! 100% Occupied 12 Unit Free Market Apartment Building In Brooklyn For Sale!!! The Property Features Excellent Signage, Great Exposure, R6B Zoning, (7) 2 Bedroom Apts., (5) 1 Bedroom Apts., Security Camera System, High 9’ Ceilings, Basement, Separate Meters, 6 Parking Spaces, 3 Phase Power, All New LED LIghting, A/C, +++!!! The Property Is Located In The Heart Of Flatbush Just Off Rt. 27 Near The Brooklyn Museum, Kings Theatre, Prospect Park & Just Minutes From I-278!!! Neighbors Include Chase Bank, USPS, Safeguard Self Storage, Target, Foot Locker, Old Navy, Planet Fitness, AT&T, Boost Mobile, Dunkin’, Key Food, H & R Block, Walgreens, McDonald’s, Popeye’s Louisiana Kitchen, Domino’s Pizza, CVS, +++!!! The Entire Building Underwent A Gut Renovation In 2024!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Apt. 1: $26,400 Ann.; Lease Exp.: 11/30/26.
Apt. 2: $30,000 Ann.; Lease Exp.: 5/31/27.
Apt. 3: $30,300 Ann.; Lease Exp.: 12/31/26.
Apt. 4: $30,000 Ann.; Lease Exp.: 10/31/26.
Apt. 5: $39,000 Ann.; Lease Exp.: 5/31/26.
Apt. 6: $27,600 Ann.; Lease Exp.: 9/30/26.
Apt. 7: $28,800 Ann.; Lease Exp.: 10/31/25.
Apt. 8: $36,000 Ann.; Lease Exp.: 7/3/26.
Apt. 9: $26,400 Ann.; Lease Exp.: 9/30/25.
Apt. 10: $30,000 Ann.; Lease Exp.: 12/31/26.
Apt. 11: $36,000 Ann.; Lease Exp.: 6/30/26.
Apt. 12: $27,600 Ann.; Lease Exp.: 4/30/27.
Gross Income: $368,100 Ann.
Expenses:
LHP: $9,108.05 Ann.
Insurance: $ 7,200 Ann.
Cleaning & Maintenance: $3,600 Ann.
Security System/Cable: $632.64 Ann.
Water: $3,929.23 Ann.
Taxes: $71,895.92 Ann.
Total Expenses: $96,365.84 Ann.
Net Operating Income (NOI): $271,731.16 Ann.
Income:
Apt. 1: $26,400 Ann.; Lease Exp.: 11/30/26.
Apt. 2: $30,000 Ann.; Lease Exp.: 5/31/27.
Apt. 3: $30,300 Ann.; Lease Exp.: 12/31/26.
Apt. 4: $30,000 Ann.; Lease Exp.: 10/31/26.
Apt. 5: $39,000 Ann.; Lease Exp.: 5/31/26.
Apt. 6: $27,600 Ann.; Lease Exp.: 9/30/26.
Apt. 7: $28,800 Ann.; Lease Exp.: 10/31/25.
Apt. 8: $36,000 Ann.; Lease Exp.: 7/3/26.
Apt. 9: $26,400 Ann.; Lease Exp.: 9/30/25.
Apt. 10: $30,000 Ann.; Lease Exp.: 12/31/26.
Apt. 11: $36,000 Ann.; Lease Exp.: 6/30/26.
Apt. 12: $27,600 Ann.; Lease Exp.: 4/30/27.
Gross Income: $368,100 Ann.
Expenses:
LHP: $9,108.05 Ann.
Insurance: $ 7,200 Ann.
Cleaning & Maintenance: $3,600 Ann.
Security System/Cable: $632.64 Ann.
Water: $3,929.23 Ann.
Taxes: $71,895.92 Ann.
Total Expenses: $96,365.84 Ann.
Net Operating Income (NOI): $271,731.16 Ann.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$368,100
|
$47.41
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$368,100
|
$47.41
|
| Taxes |
$71,895
|
$9.26
|
| Operating Expenses |
$24,470
|
$3.15
|
| Total Expenses |
$96,365
|
$12.41
|
| Net Operating Income |
$271,735
|
$35.00
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $368,100 |
| Annual Per SF | $47.41 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $368,100 |
| Annual Per SF | $47.41 |
| Taxes | |
|---|---|
| Annual | $71,895 |
| Annual Per SF | $9.26 |
| Operating Expenses | |
|---|---|
| Annual | $24,470 |
| Annual Per SF | $3.15 |
| Total Expenses | |
|---|---|
| Annual | $96,365 |
| Annual Per SF | $12.41 |
| Net Operating Income | |
|---|---|
| Annual | $271,735 |
| Annual Per SF | $35.00 |
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Walk-In Closets
- Carpet
Site Amenities
- 24 Hour Access
- Property Manager on Site
- Security System
- Tenant Controlled HVAC
- Storage Space
- Bicycle Storage
- Maintenance on site
- Public Transportation
- Individual Locking Bedrooms
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
| 2+1 | 7 | - | - |
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 05083-0020 | Total Assessment | $652,950 (2026) |
| Land Assessment | $171,000 (2026) | Annual Taxes | $71,895 ($9.26/SF) |
| Improvements Assessment | $481,950 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
05083-0020
Land Assessment
$171,000 (2026)
Improvements Assessment
$481,950 (2026)
Total Assessment
$652,950 (2026)
Annual Taxes
$71,895 ($9.26/SF)
Tax Year
2025
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16-18 Lenox Rd
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