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238 East 52nd Street 238 E 52nd St 9 Unit Apartment Building $3,850,000 ($427,778/Unit) 7.63% Cap Rate Brooklyn, NY 11203
INVESTMENT HIGHLIGHTS
- Newly renovated 9-unit building with six(6) one-bedroom units and three(3) studio units.
- Major value add opportunity with pending 421A tax abatement.
- Penthouse unit includes a rooftop patio.
EXECUTIVE SUMMARY
Introducing 238 East 52nd Street, a multifamily investor's dream. This recently constructed 6,923 SF building offers 9 units, consisting of 6 one-bedroom units and 3 studios, including a stunning penthouse with its own rooftop patio. With a pending 421A and R6 zoning, this property presents a major value add opportunity. The building is fully occupied, and includes free market units, rented under market value, demonstrating the potential for increased revenue. Investors will appreciate the opportunity to capitalize on this prime asset and its strategic location in Brooklyn, NY.
This nine-unit new development was recently constructed and is ready to be marketed and leased. It is comprised of six one-bedroom units and three studios, one of them being a penthouse unit with its own rooftop patio. It also has a pending 421A, which can help reduce major annual costs.
A growing residential area with a massive need for newly renovated and affordable apartments. This property caters to a diverse mix of potential tenants and has a major upside for an outside investor.
Located in the East Flatbush neighborhood of Brooklyn near the Sutter Ave - Rutland Rd subway station.
Nearest Transit: 2, 3, 4, & 5 trains at Sutter Ave - Rutland Rd and the B46 & B35 bus lines.
This nine-unit new development was recently constructed and is ready to be marketed and leased. It is comprised of six one-bedroom units and three studios, one of them being a penthouse unit with its own rooftop patio. It also has a pending 421A, which can help reduce major annual costs.
A growing residential area with a massive need for newly renovated and affordable apartments. This property caters to a diverse mix of potential tenants and has a major upside for an outside investor.
Located in the East Flatbush neighborhood of Brooklyn near the Sutter Ave - Rutland Rd subway station.
Nearest Transit: 2, 3, 4, & 5 trains at Sutter Ave - Rutland Rd and the B46 & B35 bus lines.
PROPERTY FACTS
| Price | $3,850,000 | Property Subtype | Apartment |
| Price Per Unit | $427,778 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 7.63% | Building Size | 6,923 SF |
| No. Units | 9 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2022 |
| Zoning | R6 - A growing residential area with a massive need for newly renovated and affordable apartments. property caters to a diverse mix of potential tenan | ||
| Price | $3,850,000 |
| Price Per Unit | $427,778 |
| Sale Type | Investment |
| Cap Rate | 7.63% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.05 AC |
| Building Size | 6,923 SF |
| No. Stories | 4 |
| Year Built | 2022 |
| Zoning | R6 - A growing residential area with a massive need for newly renovated and affordable apartments. property caters to a diverse mix of potential tenan |
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Walk Score®
Walker's Paradise (91)
Transit Score®
Excellent Transit (75)
PROPERTY TAXES
| Parcel Number | 04657-0011 | Improvements Assessment | $412,200 |
| Land Assessment | $67,500 | Total Assessment | $479,700 |
PROPERTY TAXES
Parcel Number
04657-0011
Land Assessment
$67,500
Improvements Assessment
$412,200
Total Assessment
$479,700
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238 East 52nd Street | 238 E 52nd St
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