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Free Market 7-Family 222 Monroe St 7 Unit Apartment Building $3,000,000 ($428,571/Unit) 6.46% Cap Rate Brooklyn, NY 11216
Investment Highlights
- Fully Free Market: following substantial rehabilitation completed in 2017, with an approved Order and Determination
- High End Finishes: Fully renovated with high end finishes, separate utilities, individual heating and cooling (split units), recessed lighting, etc
- Neighborhood Amenities: Key Foods supermarket is directly across the street, countless other retail and dining options along neighboring Nostrand Ave
- Cashflow + Upside: Currently grossing $250K+ per year, with upside ready to be unlocked as apartments renew or are re-leased at market rate
- Owner-User Opportunity: building/neighborhood/architecture lend well to an owner/user/investor living in one or more of the units + rental income
- Protected Tax Class: 2B tax class limits tax increases to no more than 8% a year or 30% over 5 years.
Property Facts
| Price | $3,000,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $428,571 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 6.46% | Building Size | 4,800 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1905/2017 |
| Property Subtype | Apartment | ||
| Zoning | R6A | ||
| Price | $3,000,000 |
| Price Per Unit | $428,571 |
| Sale Type | Investment |
| Cap Rate | 6.46% |
| Sale Condition | 1031 Exchange |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.04 AC |
| Building Size | 4,800 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1905/2017 |
| Zoning | R6A |
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Walk Score®
Walker's Paradise (94)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (80)
Property Taxes
| Parcel Number | 01818-0004 | Improvements Assessment | $648,450 |
| Land Assessment | $18,000 | Total Assessment | $666,450 |
Property Taxes
Parcel Number
01818-0004
Land Assessment
$18,000
Improvements Assessment
$648,450
Total Assessment
$666,450
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Free Market 7-Family | 222 Monroe St
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