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281-283 Flatbush Ave 14 Unit Apartment Building $5,900,000 ($421,429/Unit) 5.13% Cap Rate Brooklyn, NY 11217
Investment Highlights
- Close to Barclay Center
- High Foot Traffic Area
- Close Proximity to Prospect Park
Executive Summary
Legal 14 unit mixed use building with 2 commercial storefronts located along prime Flatbush Avenue. The property generates $383,035 gross income with a strong $302,623 NOI and offers immediate and near term upside.
Generational ownership, first time to market. The building units consist of 11 One Bedroom (RS), 1 One bedroom (De-Regulated) 2 Studio and 2 commercial all separately metered. Two Units Delivered vacant rest Fully occupied with stable strong tenancy. Ideal for investors seeking stable cash flow with value add and long term upside in a core Brooklyn corridor. Centrally located to major transportation hub for LIRR , Subway, Barclays Center, BAM and Prospect Park.
Generational ownership, first time to market. The building units consist of 11 One Bedroom (RS), 1 One bedroom (De-Regulated) 2 Studio and 2 commercial all separately metered. Two Units Delivered vacant rest Fully occupied with stable strong tenancy. Ideal for investors seeking stable cash flow with value add and long term upside in a core Brooklyn corridor. Centrally located to major transportation hub for LIRR , Subway, Barclays Center, BAM and Prospect Park.
Data Room Click Here to Access
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 650 |
| Studios | 2 | - | 450 |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 01150-0012 | Total Assessment | $1,128,600 (2026) |
| Land Assessment | $18,000 (2026) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,110,600 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
01150-0012
Land Assessment
$18,000 (2026)
Improvements Assessment
$1,110,600 (2026)
Total Assessment
$1,128,600 (2026)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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281-283 Flatbush Ave
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