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415 Stratford Rd
Brooklyn, NY 11218
The Stratford · Multifamily Property For Sale
·
96 Units
Investment Highlights
- The property features 96 residential units in a six-story post-war elevator building.
- Strong in-place income is supported by a diversified mix of studios, one-bedroom, and two-bedroom units.
- The building is within walking distance of the Cortelyou Road and Newkirk Avenue subway stations.
- Residents enjoy amenities including a pool, parking garage, laundry room, and package room.
- Future revenue growth potential exists through the recapture of preferential rents.
- Convenient access to Prospect Park, the Brooklyn Botanic Garden, and neighborhood dining destinations.
Executive Summary
A prominent six-story, elevator-serviced apartment building spanning approximately 88,000 gross square feet.
The property features a highly desirable amenity package, including a live-in superintendent, on-premises porter, parttime doorman, laundry room, package room, parking garage, inground swimming pool, and private outdoor terraces.
Strong in-place cash flow of $2,360,000 gross annual income, with future upside of $472,331 to be realized over time through recapture of preferential rents.
Features a diverse unit mix totaling 96 units comprised of (20) Studios, (39) 1-bedrooms and (37) 2-bedrooms.
Situated in Ditmas Park, the property is a 5-minute walk to the Cortelyou Road subway station (Q line) and within short walking distance to the Newkirk Avenue station (B/Q lines).
Located just minutes from the iconic Prospect Park and Brooklyn Botanic Garden. Close proximity to local dining and nightlife along Cortelyou Road including Cafe Madeline and Sycamore Bar & Flower Shop.
The property features a highly desirable amenity package, including a live-in superintendent, on-premises porter, parttime doorman, laundry room, package room, parking garage, inground swimming pool, and private outdoor terraces.
Strong in-place cash flow of $2,360,000 gross annual income, with future upside of $472,331 to be realized over time through recapture of preferential rents.
Features a diverse unit mix totaling 96 units comprised of (20) Studios, (39) 1-bedrooms and (37) 2-bedrooms.
Situated in Ditmas Park, the property is a 5-minute walk to the Cortelyou Road subway station (Q line) and within short walking distance to the Newkirk Avenue station (B/Q lines).
Located just minutes from the iconic Prospect Park and Brooklyn Botanic Garden. Close proximity to local dining and nightlife along Cortelyou Road including Cafe Madeline and Sycamore Bar & Flower Shop.
Property Facts
| Price Per Unit | $158,854 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.85% | Lot Size | 1.00 AC |
| Gross Rent Multiplier | 6.7 | Building Size | 73,985 SF |
| No. Units | 96 | No. Stories | 6 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 2.32/1,000 SF |
| Zoning | R6 - R6 is a medium-density residential zoning district. | ||
| Price Per Unit | $158,854 |
| Sale Type | Investment |
| Cap Rate | 7.85% |
| Gross Rent Multiplier | 6.7 |
| No. Units | 96 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 73,985 SF |
| No. Stories | 6 |
| Year Built | 1963 |
| Parking Ratio | 2.32/1,000 SF |
| Zoning | R6 - R6 is a medium-density residential zoning district. |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Laundry Facilities
- Pool
- Tenant Controlled HVAC
- Doorman
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 20 | - | - |
| 1+1 | 39 | - | - |
| 2+1 | 37 | - | - |
Property Taxes
| Parcel Number | 05154-0047 | Improvements Assessment | $2,925,000 |
| Land Assessment | $211,050 | Total Assessment | $3,136,050 |
Property Taxes
Parcel Number
05154-0047
Land Assessment
$211,050
Improvements Assessment
$2,925,000
Total Assessment
$3,136,050
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