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1710 Newkirk Ave 20 Unit Apartment Building $5,750,000 ($287,500/Unit) 9.08% Cap Rate Brooklyn, NY 11226
INVESTMENT HIGHLIGHTS
- Parking garage is currently occupied by a single tenant.
- The property is located in the Ditmas Park section of Brooklyn, conveniently located near shopping, dining and transportation options.
- Newly expired 421a Tax Abatement - all units have proper lease riders, allowing rents to revert to market upon lease renewal.
- Within walking distance to the Newkirk Plaza Station.
EXECUTIVE SUMMARY
5-story elevator building consists of 19 apartments & parking garage.
PROPERTY FACTS
| Price | $5,750,000 | Property Subtype | Apartment |
| Price Per Unit | $287,500 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 9.08% | Lot Size | 0.11 AC |
| Gross Rent Multiplier | 9.6 | Building Size | 17,213 SF |
| No. Units | 20 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 2005 |
| Zoning | R6 | ||
| Price | $5,750,000 |
| Price Per Unit | $287,500 |
| Sale Type | Investment |
| Cap Rate | 9.08% |
| Gross Rent Multiplier | 9.6 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 17,213 SF |
| No. Stories | 5 |
| Year Built | 2005 |
| Zoning | R6 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Tub/Shower
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | - | 550 |
1 1
Walk Score®
Very Walkable (88)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (79)
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1710 Newkirk Ave
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