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1845-1849 Atlantic Ave 16 Unit Apartment Building $5,000,000 ($312,500/Unit) Brooklyn, NY 11233
INVESTMENT HIGHLIGHTS
- 2031 421A EXPIRATION WITH BELOW MARKET RENTS
- STABLE IN-PLACE CASH FLOW WITH VALUE-ADD POTENTIAL
- UPSIDE TO 8.5% CAP RATE WITH SUBSTANTIAL PREFERENTIAL RENTS
- LESS THAN A 5-MINUTE WALK TO RALPH AVE SUBWAY
- EVERY TENANT HAS INDIVIDUAL BOILER AND HOT WATER TANK
EXECUTIVE SUMMARY
Cushman & Wakefield is pleased to exclusively present 1845-1849 Atlantic Avenue, two adjacent mixed-use assets located in the rapidly evolving Bedford-Stuvasent section of Brooklyn. Situated directly along Atlantic Avenue, the properties benefit from exceptional visibility, strong foot traffic, and proximity to key retail corridors. Together, the buildings represent a rare opportunity to acquire stable, income-producing assets with immediate upside through an expiring 421-a tax abatement (2031) and below-market in-place rents.
The properties enjoy excellent transportation access, located less than a 5-minute walk to the Ralph Avenue "A" & "C" subway station, providing a direct connection to Downtown Brooklyn and Manhattan. Multiple bus lines also service the corridor, further enhancing accessibility for tenants and customers. The surrounding neighborhood continues to benefit from ongoing residential and commercial growth, creating a strong demand base for both retail and residential tenancy.
The properties enjoy excellent transportation access, located less than a 5-minute walk to the Ralph Avenue "A" & "C" subway station, providing a direct connection to Downtown Brooklyn and Manhattan. Multiple bus lines also service the corridor, further enhancing accessibility for tenants and customers. The surrounding neighborhood continues to benefit from ongoing residential and commercial growth, creating a strong demand base for both retail and residential tenancy.
DATA ROOM Click Here to Access
- Miscellaneous
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$422,315
|
$20.95
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $422,315 |
| Annual Per SF | $20.95 |
PROPERTY FACTS
| Price | $5,000,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $312,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.15 AC |
| No. Units | 16 | Building Size | 20,160 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 2004 |
| Zoning | R6 | ||
| Price | $5,000,000 |
| Price Per Unit | $312,500 |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 20,160 SF |
| No. Stories | 4 |
| Year Built | 2004 |
| Zoning | R6 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 16 | - | - |
1 1
Walk Score®
Very Walkable (88)
Transit Score®
Rider's Paradise (96)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,302,300 | |
| Land Assessment | $20,700 | Total Assessment | $1,323,000 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$20,700
Improvements Assessment
$1,302,300
Total Assessment
$1,323,000
CONTACTS
-
Kieran Baker -
Dimitri Venekas -
Jon Squires -
Dylan Walsh -
Nick Kolbus -
Jeremy Stern -
Cushman & Wakefield
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1845-1849 Atlantic Ave
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