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314 Macdougal St 6 Unit Apartment Building $1,150,000 ($191,667/Unit) 9.44% Cap Rate Brooklyn, NY 11233
Investment Highlights
- 4,500 gross square Feet | Three (3) of the six (6) units are Free Market | Protected Tax Class 2A
- 5-minute walk to multiple train lines (A, C, J, Z & L). 20-minute commute into Manhattan
- New Roof, Boiler, Heater, Electric, Kitchens & Bathrooms in Free Market Units.
- Destabilization took place through (IAI) Individual Apartment Improvements and Major Capital Improvements (MCI) between 2016 – 2017.
- Generating Strong Day-1 Cash Flow, with significant upside.
Executive Summary
Matthew Peters w/ The Peters Team at Marcus & Millichap is pleased to present 314 Macdougal Street, a 6-unit multifamily building located in Ocean Hill, Brooklyn. The property generates over $153,000 in gross annual income across approximately 4,500 gross square feet, with 3 free market units and 3 rent stabilized units.
The building benefits from protected Tax Class 2A status, recent capital improvements, professional management, and proximity to Broadway Junction, offering access to five major subway lines and a neighborhood experiencing significant transformation.
The building benefits from protected Tax Class 2A status, recent capital improvements, professional management, and proximity to Broadway Junction, offering access to five major subway lines and a neighborhood experiencing significant transformation.
Property Facts
| Price | $1,150,000 | Apartment Style | Low-Rise |
| Price Per Unit | $191,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 9.44% | 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 | $1,150,000 |
| Price Per Unit | $191,667 |
| Sale Type | Investment |
| Cap Rate | 9.44% |
| 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
Exceptionally walkable
100/100
Challenging for drivers
10/100
Exceptional public transit
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 01535-0010 | Improvements Assessment | $338,850 |
| Land Assessment | $78,750 | Total Assessment | $417,600 |
Property Taxes
Parcel Number
01535-0010
Land Assessment
$78,750
Improvements Assessment
$338,850
Total Assessment
$417,600
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314 Macdougal St