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314 Macdougal St 6 Unit Apartment Building $1,350,000 ($225,000/Unit) 8.04% Cap Rate Brooklyn, NY 11233
Investment Highlights
- Metrics: 4,500 gross square Feet | Three (3) of the six (6) units are Free Market | Protected Tax Class 2A
- Renovation: Destabilization took place through (IAI) Individual Apartment Improvements and Major Capital Improvements (MCI) between 2016 – 2017.
- Income Producing: Generating Strong Day-1 Cash Flow, with significant upside.
- Location: Ocean Hill, walking distance to Broadway Junction. One Block to Bushwick neighborhood
- Excellent Transportation: 5-minute walk to multiple train lines (A, C, J, Z & L). 20-minute commute into Manhattan
- Recent Upgrades: New Roof, Boiler, Heater, Electric, Kitchens & Bathrooms in Free Market Units.
Executive Summary
Matthew Peters, with The Peters Team at Marcus & Millichap, is pleased to present the exclusive listing for the property located at 314 Macdougal Street, in the Ocean Hill section of Brooklyn, NY, 11233.
Layout:
Basement:
Mechanicals | Potential for Storage
Ground Floor:
2 apartments
1R- 2-bedroom, 1-bathroom (Railroad 3 Bed) - RS
1L- 2-bedroom, 1-bathroom (Railroad 3 Bed) - RS
Second Floor:
2 apartments
2R - 2-bedroom, 1-bathroom (Railroad 3 Bed), Free Market
2L - 2-bedroom, 1-bathroom (Railroad 3 Bed) - RS
Third Floor:
2 apartments
3R - 3-bedroom, 1-bathroom, In-Unit W/D - Free Market
3L - 3-bedroom, 1-bathroom, Railroad, Free Market
Investment Opportunity:
The building is currently cash flowing w/ 6 Apartment units, 3 of which have been destabilized and converted to Free Market between 2016-2017 through High Vacancy Decontrol
Protected Tax Class (2A)
Brand New Roof, Boiler, Heater, Electrical etc. Throughout the Building
Professionally Managed. All Paperwork on File
Location:
Located in Ocean Hill, Brooklyn, NY
Within walking distance to the A, C, J, & Z & L Train Lines (Broadway Junction)
Located Walking Distance to Neighborhood Shops & Restaurants
Layout:
Basement:
Mechanicals | Potential for Storage
Ground Floor:
2 apartments
1R- 2-bedroom, 1-bathroom (Railroad 3 Bed) - RS
1L- 2-bedroom, 1-bathroom (Railroad 3 Bed) - RS
Second Floor:
2 apartments
2R - 2-bedroom, 1-bathroom (Railroad 3 Bed), Free Market
2L - 2-bedroom, 1-bathroom (Railroad 3 Bed) - RS
Third Floor:
2 apartments
3R - 3-bedroom, 1-bathroom, In-Unit W/D - Free Market
3L - 3-bedroom, 1-bathroom, Railroad, Free Market
Investment Opportunity:
The building is currently cash flowing w/ 6 Apartment units, 3 of which have been destabilized and converted to Free Market between 2016-2017 through High Vacancy Decontrol
Protected Tax Class (2A)
Brand New Roof, Boiler, Heater, Electrical etc. Throughout the Building
Professionally Managed. All Paperwork on File
Location:
Located in Ocean Hill, Brooklyn, NY
Within walking distance to the A, C, J, & Z & L Train Lines (Broadway Junction)
Located Walking Distance to Neighborhood Shops & Restaurants
Property Facts
| Price | $1,350,000 | Apartment Style | Low-Rise |
| Price Per Unit | $225,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 8.04% | Building Size | 4,500 SF |
| Gross Rent Multiplier | 8.86 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1907/2016 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R6 - A medium-density residential zoning district in NYC (Brooklyn, Queens, Bronx, with some in Manhattan/Staten Island) that allows for a variety of housing types, from three-story rowhouses to large-scale apartment buildings. | ||
| Price | $1,350,000 |
| Price Per Unit | $225,000 |
| Sale Type | Investment |
| Cap Rate | 8.04% |
| Gross Rent Multiplier | 8.86 |
| 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/Renovated | 1907/2016 |
| Opportunity Zone |
Yes |
| Zoning | R6 - A medium-density residential zoning district in NYC (Brooklyn, Queens, Bronx, with some in Manhattan/Staten Island) that allows for a variety of housing types, from three-story rowhouses to large-scale apartment buildings. |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 6 | - | 650 |
1 1
Walk Score®
Very Walkable (84)
Transit Score®
Rider's Paradise (100)
Property Taxes
| Parcel Number | 01535-0010 | Improvements Assessment | $269,100 |
| Land Assessment | $78,750 | Total Assessment | $347,850 |
Property Taxes
Parcel Number
01535-0010
Land Assessment
$78,750
Improvements Assessment
$269,100
Total Assessment
$347,850
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314 Macdougal St
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