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180 Scholes St
Brooklyn, NY 11206
Multifamily Property For Sale
·
34 Units
Investment Highlights
- 40,000 SF above-grade, 12,500 SF of Cellar space, including apartment duplex space, parking and mechanical.
- 34 residential units (9x 1BR, 15x 2BR, 9x 3BR, 1x 4BR)
- 6.5% CAP rate year-1, 11% average cash-on-cash yield over 10 years as abatement expires (see link for Cash Flow Analysis)
- Assumable $16mm Agency loan, 15 year term at 3.02% fixed rate, amortized over 15 years, principal and interest payments of $800,000 annually
- Gross Income of $1,406,852, with year-1 of NOI of $1,181,139
- L train subway entrance just 3 blocks away at Montrose Avenue / Bushwick Avenue
Property Facts
| No. Units | 34 | Lot Size | 0.14 AC |
| Property Type | Multifamily | Building Size | 52,500 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 2009 |
| Building Class | B | ||
| Zoning | R6 - Medium density residential zoning district. | ||
| No. Units | 34 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.14 AC |
| Building Size | 52,500 SF |
| No. Stories | 3 |
| Year Built | 2009 |
| Zoning | R6 - Medium density residential zoning district. |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Microwave
- Storage Space
- Washer/Dryer
- Granite Countertops
- Sunroom
- Yard
- Wheelchair Accessible (Rooms)
Site Amenities
- Fitness Center
- Spa
- Grill
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 29 | - | - |
| 2+1 | 4 | - | - |
| 3+1 | 1 | - | - |
Property Taxes
| Parcel Number | 03044-0016 | Improvements Assessment | $3,454,650 |
| Land Assessment | $222,300 | Total Assessment | $3,676,950 |
Property Taxes
Parcel Number
03044-0016
Land Assessment
$222,300
Improvements Assessment
$3,454,650
Total Assessment
$3,676,950
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