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308 Tompkins Ave 4 Unit Apartment Building $2,750,000 ($687,500/Unit) 6.63% Cap Rate Brooklyn, NY 11216
Investment Highlights
- Renovated 4-story mixed-use building located in the heart of Bedford-Stuyvesant, Brooklyn
- Free-market residential income.
- The property benefits from protected tax status, resulting in exceptionally low annual taxes of only $6,595
- 3 residential apts and 1 ground-floor retail store, delivering strong in-place cash flow with an established commercial tenant
- Total building area is approximately 4,620 SF
- a well-located, renovated, cash-flowing mixed-use asset in Bed-Stuy at $595/SF
Executive Summary
Investment Property Realty Group (IPRG) has been exclusively retained to sell 308 Tompkins Avenue, a renovated 4-story mixed-use building located in the heart of Bedford-Stuyvesant, Brooklyn. The asset consists of 3 residential apartments and 1 ground-floor retail store, delivering strong in-place cash flow with an established commercial tenant and free-market residential income.
The building sits on a high-visibility stretch of Tompkins Avenue, one of Bed-Stuy’s premier retail corridors, with excellent foot traffic and convenient access to the A/C subway lines. Bedford-Stuyvesant continues to attract strong residential demand while supporting a vibrant mix of local shops, dining, and neighborhood services. Total building area is approximately 4,620 SF. The property benefits from protected tax status, resulting in exceptionally low annual taxes of only $6,595 and meaningful insulation against assessment increases.
This is a great opportunity to acquire a well-located, renovated, cash-flowing mixed-use asset in Bed-Stuy at $595/SF, producing a 6.63% cap rate on $226,000 of annual gross income, with both defensive characteristics (tax protection + residential income) and stable commercial occupancy.
The building sits on a high-visibility stretch of Tompkins Avenue, one of Bed-Stuy’s premier retail corridors, with excellent foot traffic and convenient access to the A/C subway lines. Bedford-Stuyvesant continues to attract strong residential demand while supporting a vibrant mix of local shops, dining, and neighborhood services. Total building area is approximately 4,620 SF. The property benefits from protected tax status, resulting in exceptionally low annual taxes of only $6,595 and meaningful insulation against assessment increases.
This is a great opportunity to acquire a well-located, renovated, cash-flowing mixed-use asset in Bed-Stuy at $595/SF, producing a 6.63% cap rate on $226,000 of annual gross income, with both defensive characteristics (tax protection + residential income) and stable commercial occupancy.
Property Facts
| Price | $2,750,000 | Building Class | C |
| Price Per Unit | $687,500 | Lot Size | 0.04 AC |
| Sale Type | Investment | Building Size | 4,618 SF |
| Cap Rate | 6.63% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1931 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R6A - medium density residential | ||
| Price | $2,750,000 |
| Price Per Unit | $687,500 |
| Sale Type | Investment |
| Cap Rate | 6.63% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 4,618 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1931 |
| Opportunity Zone |
Yes |
| Zoning | R6A - medium density residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+1 | 4 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 01809-0041 | Improvements Assessment | $375,300 |
| Land Assessment | $22,050 | Total Assessment | $397,350 |
Property Taxes
Parcel Number
01809-0041
Land Assessment
$22,050
Improvements Assessment
$375,300
Total Assessment
$397,350
Contacts
-
Steve Reynolds -
Derek Bestreich -
Tom Reynolds -
Brian Davila -
Investment Property Realty Group
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