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182 New York Ave 9 Unit Apartment Building $1,250,000 ($138,889/Unit) 9.74% Cap Rate Brooklyn, NY 11216
Investment Highlights
- Three of nine units delivered vacant, ideal for owner occupancy or repositioning.
- R6 zoning with 2,300+ SF of unused development rights for expansion.
- Blocks from Nostrand, Bedford, Franklin retail, Prospect Park, and Grand Army Plaza.
- Brownstone-style architecture with windows on three sides for ample light and air.
- Protected 2B Tax Class limits tax increases to 8% per year or 30% over 5 years.
- Excellent transit access: 2, 3, 4, 5, S, A, C trains and Nostrand Avenue LIRR nearby.
Executive Summary
Broker Of Record
Cory Rosenthal
Matthews Real Estate Investment Services, Inc
License # 10991237833, 10311210106 (NY)
575 5th Ave., Ste 2810 New York, NY 10017
(866) 889-0550
Cory Rosenthal
Matthews Real Estate Investment Services, Inc
License # 10991237833, 10311210106 (NY)
575 5th Ave., Ste 2810 New York, NY 10017
(866) 889-0550
Property Facts
| Price | $1,250,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $138,889 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 9.74% | Building Size | 6,800 SF |
| Sale Condition | High Vacancy Property | Average Occupancy | 56% |
| No. Units | 9 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1898 |
| Property Subtype | Apartment | ||
| Zoning | R6 | ||
| Price | $1,250,000 |
| Price Per Unit | $138,889 |
| Sale Type | Investment |
| Cap Rate | 9.74% |
| Sale Condition | High Vacancy Property |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 6,800 SF |
| Average Occupancy | 56% |
| No. Stories | 4 |
| Year Built | 1898 |
| Zoning | R6 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Sprinkler System
- Range
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 01234-0037 | Improvements Assessment | $601,200 |
| Land Assessment | $7,200 | Total Assessment | $608,400 |
Property Taxes
Parcel Number
01234-0037
Land Assessment
$7,200
Improvements Assessment
$601,200
Total Assessment
$608,400
Contacts
-
DJ Johnston -
Robert Moore -
Evan Kashanian -
Matthews Real Estate Investment Services
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182 New York Ave
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