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299 McGuinness Blvd
Brooklyn, NY 11222
287 - 299 McGuinness Boulevard, "The Wexford" · Multifamily Property For Sale
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10 Units
Investment Highlights
- Central Air
- Modern Kitchens
- Hard Wood Floors
Executive Summary
The Corcoran Group has been retained exclusively to market for sale 287-299 McGuinness Boulevard, a 2009 ground-up rental assemblage that is comprised of three consecutive buildings and a total of thirty units. The units range from 1 Bedrooms up to 5 Bedrooms and have central air, home offices, and outdoor space. This opportunity is unique, as this building is being offered at a nearly 5.5% caprate as calculated from the UNABATED taxes. A savvy investor will purchase this tax-abated building and within a year be the owner of 30 free market units that bring in close to market rate rents. There is room for capital improvement and higher rents, which makes this an even smarter investment.
This is an assemblage of 3 buildings: 287 McGuinness Boulevard, 283 McGuinness Boulevard, and 299 McGuinness Boulevard. Each building has 10 units. Please get in touch for a setup.
This is an assemblage of 3 buildings: 287 McGuinness Boulevard, 283 McGuinness Boulevard, and 299 McGuinness Boulevard. Each building has 10 units. Please get in touch for a setup.
Property Facts
| Price Per Unit | $2,100,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 5.46% | Building Size | 28,980 SF |
| No. Units | 10 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 2009 |
| Apartment Style | Mid-Rise | ||
| Zoning | R6A - R6A Zoning is a medium-density residential zoning district. It is a contextual zone that follows the regulations of the Quality Housing Program. | ||
| Price Per Unit | $2,100,000 |
| Sale Type | Investment |
| Cap Rate | 5.46% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 28,980 SF |
| Average Occupancy | 100% |
| No. Stories | 5 |
| Year Built | 2009 |
| Zoning | R6A - R6A Zoning is a medium-density residential zoning district. It is a contextual zone that follows the regulations of the Quality Housing Program. |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | - | - |
| 4+2 | 2 | - | - |
| 6+2 | 6 | - | - |
Property Taxes
| Parcel Number | 02541-0036 | Improvements Assessment | $1,172,250 |
| Land Assessment | $39,150 | Total Assessment | $1,211,400 |
Property Taxes
Parcel Number
02541-0036
Land Assessment
$39,150
Improvements Assessment
$1,172,250
Total Assessment
$1,211,400
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