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1710 Newkirk Ave 20 Unit Apartment Building $5,500,000 ($275,000/Unit) 9.49% 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 Under Contract
| Price | $5,500,000 | Property Subtype | Apartment |
| Price Per Unit | $275,000 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 9.49% | 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 | $5,500,000 |
| Price Per Unit | $275,000 |
| Sale Type | Investment |
| Cap Rate | 9.49% |
| 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
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 05217-0004 | Improvements Assessment | $333,000 |
| Land Assessment | $109,800 | Total Assessment | $442,800 |
Property Taxes
Parcel Number
05217-0004
Land Assessment
$109,800
Improvements Assessment
$333,000
Total Assessment
$442,800
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1710 Newkirk Ave
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