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247 Himrod St 6 Unit Apartment Building $1,875,000 ($312,500/Unit) 5.79% Cap Rate Brooklyn, NY 11237
EXECUTIVE SUMMARY
Introducing 247 Himrod Street, a well-located 6-family in the heart of Bushwick offering immediate cash flow with meaningful long-term upside in the best location in all of Brooklyn, near the Jefferson L train, one of the few remaining bastions of cultural and rent growth in all of NYC.
The property consists of six (6) income-producing apartments comprised of four (4) free-market units and two (2) rent-stabilized units, supported by clean DHCR paperwork—a rare combination of stability and growth potential.
The building is situated on a 25’ x 100’ lot and is zoned R6, with approximately 4,500 SF built and approximately 1,000 SF of available air rights, creating optionality for the future.
At the asking price of $1,875,000, the asset currently operates at a 5.79% cap with a pro-forma cap rate of 6.53% with just mark-to-market renewal increases. The building will be delivered with all units occupied.
Bushwick continues to attract strong tenant demand, anchored by the neighborhood’s dining, nightlife, and creative scene, plus convenient access to the M train and nearby L train.
Contact me for the OM!
The property consists of six (6) income-producing apartments comprised of four (4) free-market units and two (2) rent-stabilized units, supported by clean DHCR paperwork—a rare combination of stability and growth potential.
The building is situated on a 25’ x 100’ lot and is zoned R6, with approximately 4,500 SF built and approximately 1,000 SF of available air rights, creating optionality for the future.
At the asking price of $1,875,000, the asset currently operates at a 5.79% cap with a pro-forma cap rate of 6.53% with just mark-to-market renewal increases. The building will be delivered with all units occupied.
Bushwick continues to attract strong tenant demand, anchored by the neighborhood’s dining, nightlife, and creative scene, plus convenient access to the M train and nearby L train.
Contact me for the OM!
PROPERTY FACTS
| Price | $1,875,000 | Apartment Style | Low-Rise |
| Price Per Unit | $312,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 5.79% | Building Size | 4,500 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1931 |
| Zoning | R6 | ||
| Price | $1,875,000 |
| Price Per Unit | $312,500 |
| Sale Type | Investment |
| Cap Rate | 5.79% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 4,500 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1931 |
| Zoning | R6 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Heating
- Granite Countertops
- Hardwood Floors
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 6 | - | 750 |
1 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (96)
PROPERTY TAXES
| Parcel Number | 03269-0045 | Improvements Assessment | $472,950 |
| Land Assessment | $4,950 | Total Assessment | $477,900 |
PROPERTY TAXES
Parcel Number
03269-0045
Land Assessment
$4,950
Improvements Assessment
$472,950
Total Assessment
$477,900
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247 Himrod St
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