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223 Knickerbocker Ave 6 Unit Apartment Building $1,750,000 ($291,667/Unit) 7.35% Cap Rate Brooklyn, NY 11237
Investment Highlights
- Cashflow + Upside: Currently grossing $186K, with clear path to achieve $200K via increases to legal and market rents
- Renovated With High-End Finishes: The three FM units are fully renovated with high-end appliances and fixtures and includes in-unit laundry
- Desirable Location: One block from Maria Hernandez Park, on Knickerbocker Avenue, the focal point of North Bushwick
- 50% Free Market: Three units are fully free market and three units are rent stabilized (one of which has a high legal rent of $3,725)
- Transit Oriented Location: The L-train is just two blocks away at Jefferson St, with access to Williamsburg and Union Square within 15 minutes
Executive Summary
Cory Rosenthal
Matthews Real Estate Investment Services, Inc
10311210106, 10991237833 (NY)
575 5th Ave., Ste 2810 New York, NY 10017
(866) 889-0550
Matthews Real Estate Investment Services, Inc
10311210106, 10991237833 (NY)
575 5th Ave., Ste 2810 New York, NY 10017
(866) 889-0550
Property Facts
| Price | $1,750,000 | Property Subtype | Apartment |
| Price Per Unit | $291,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 7.35% | Building Size | 4,675 SF |
| No. Units | 6 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1931 |
| Zoning | R6 / C1-3 - Commercial | ||
| Price | $1,750,000 |
| Price Per Unit | $291,667 |
| Sale Type | Investment |
| Cap Rate | 7.35% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 4,675 SF |
| No. Stories | 4 |
| Year Built | 1931 |
| Zoning | R6 / C1-3 - Commercial |
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Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 03187-0006 | Improvements Assessment | $490,500 |
| Land Assessment | $38,700 | Total Assessment | $529,200 |
Property Taxes
Parcel Number
03187-0006
Land Assessment
$38,700
Improvements Assessment
$490,500
Total Assessment
$529,200
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