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241 Blake Ave 241 Blake Ave 2 Unit Apartment Building $1,200,000 ($600,000/Unit) 8.25% Cap Rate Brooklyn, NY 11212
Investment Highlights
- Both 3BR/1BTH units vacant and recently renovated — lease immediately at full market rent.
- Owner-user opportunity: occupy one unit while collecting in-place retail income at street level.
- Corner location at Chester Street and Blake Avenue in rapidly evolving Brooklyn submarket.
- Tax Class 1 with just $3,929 in annual real estate taxes — exceptionally low for mixed-use.
- Well-suited for Section 8 or affordable housing programs with reliable, subsidized income.
- Projected 8.25% cap rate with $98,956 NOI and 9.41 GRM on market rents.
Executive Summary
Broker Of Record
Cory Rosenthal
Matthews Real Estate Investment Services, Inc
10311210106, 10991237833 (NY)
575 5th Ave., Ste 2810 New York, NY 10017 (866) 889-0550
Cory Rosenthal
Matthews Real Estate Investment Services, Inc
10311210106, 10991237833 (NY)
575 5th Ave., Ste 2810 New York, NY 10017 (866) 889-0550
Property Facts
| Price | $1,200,000 | Property Subtype | Apartment |
| Price Per Unit | $600,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 8.25% | Lot Size | 0.02 AC |
| Gross Rent Multiplier | 9.41 | Building Size | 2,820 SF |
| No. Units | 2 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1926 |
| Zoning | R6 - Medium Density Residential District | ||
| Price | $1,200,000 |
| Price Per Unit | $600,000 |
| Sale Type | Investment |
| Cap Rate | 8.25% |
| Gross Rent Multiplier | 9.41 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.02 AC |
| Building Size | 2,820 SF |
| No. Stories | 3 |
| Year Built | 1926 |
| Zoning | R6 - Medium Density Residential District |
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Exceptionally walkable
100/100
Challenging for drivers
10/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 03543-0001 | Improvements Assessment | $51,180 |
| Land Assessment | $8,940 | Total Assessment | $60,120 |
Property Taxes
Parcel Number
03543-0001
Land Assessment
$8,940
Improvements Assessment
$51,180
Total Assessment
$60,120
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241 Blake Ave | 241 Blake Ave
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