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413 57 Street 413 57th St 12 Unit Apartment Building $5,300,000 ($441,667/Unit) 6.60% Cap Rate Brooklyn, NY 11220
Investment Highlights
- 6.6% CAP RATE
- GREAT LOCATION
- NEW BUILT BUILDING
Executive Summary
Attention property investors—this is a rare opportunity you don’t want to miss.
This newly constructed 7-story residential building features 12 units (2 units per floor) and is not subject to rent control, offering maximum income flexibility and long-term upside.
Each floor consists of:
• Front unit: 1-bedroom
• Rear unit: 2-bedroom
The property spans approximately 9,000 square feet and is built with concrete and steel construction, ensuring durability, superior soundproofing, and minimal maintenance costs.
Financial Highlights:
• Current Net Operating Income (NOI): $349,906 annually
• Cap Rate: 6.6%
• Additional upside: Potential T-Mobile rooftop lease for antenna installation, projected to generate an extra $50,000 annually
Key Features:
• Tenants pay all utilities, including heat and hot water
• Low operating expenses
• Strong, stable income stream with additional upside
Location:
Situated in an excellent, high-demand area, just minutes to Manhattan via the N train, and adjacent to Park Slope, one of Brooklyn’s most desirable
This newly constructed 7-story residential building features 12 units (2 units per floor) and is not subject to rent control, offering maximum income flexibility and long-term upside.
Each floor consists of:
• Front unit: 1-bedroom
• Rear unit: 2-bedroom
The property spans approximately 9,000 square feet and is built with concrete and steel construction, ensuring durability, superior soundproofing, and minimal maintenance costs.
Financial Highlights:
• Current Net Operating Income (NOI): $349,906 annually
• Cap Rate: 6.6%
• Additional upside: Potential T-Mobile rooftop lease for antenna installation, projected to generate an extra $50,000 annually
Key Features:
• Tenants pay all utilities, including heat and hot water
• Low operating expenses
• Strong, stable income stream with additional upside
Location:
Situated in an excellent, high-demand area, just minutes to Manhattan via the N train, and adjacent to Park Slope, one of Brooklyn’s most desirable
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$388,930
|
$42.09
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$388,930
|
$42.09
|
| Taxes |
$2,400
|
$0.26
|
| Operating Expenses |
$30,100
|
$3.26
|
| Total Expenses |
$32,500
|
$3.52
|
| Net Operating Income |
$356,430
|
$38.57
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $388,930 |
| Annual Per SF | $42.09 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $388,930 |
| Annual Per SF | $42.09 |
| Taxes | |
|---|---|
| Annual | $2,400 |
| Annual Per SF | $0.26 |
| Operating Expenses | |
|---|---|
| Annual | $30,100 |
| Annual Per SF | $3.26 |
| Total Expenses | |
|---|---|
| Annual | $32,500 |
| Annual Per SF | $3.52 |
| Net Operating Income | |
|---|---|
| Annual | $356,430 |
| Annual Per SF | $38.57 |
Property Facts
| Price | $5,300,000 | Building Class | B |
| Price Per Unit | $441,667 | Lot Size | 0.05 AC |
| Sale Type | Investment | Building Size | 9,240 SF |
| Cap Rate | 6.60% | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 7 |
| Property Type | Multifamily | Year Built | 2018 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | R7 - R7 | ||
| Price | $5,300,000 |
| Price Per Unit | $441,667 |
| Sale Type | Investment |
| Cap Rate | 6.60% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.05 AC |
| Building Size | 9,240 SF |
| Average Occupancy | 100% |
| No. Stories | 7 |
| Year Built | 2018 |
| Opportunity Zone |
Yes |
| Zoning | R7 - R7 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
Site Amenities
- 24 Hour Access
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | 578 |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 00839-0071 | Total Assessment | $855,450 |
| Land Assessment | $45,000 | Annual Taxes | $2,400 ($0.26/SF) |
| Improvements Assessment | $810,450 | Tax Year | 2025 |
Property Taxes
Parcel Number
00839-0071
Land Assessment
$45,000
Improvements Assessment
$810,450
Total Assessment
$855,450
Annual Taxes
$2,400 ($0.26/SF)
Tax Year
2025
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413 57 Street | 413 57th St
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