Log In/Sign Up
Your email has been sent.
487 Atlantic Avenue 487 Atlantic Ave 2 Unit Apartment Building $3,595,000 ($1,797,500/Unit) 6.30% Cap Rate Brooklyn, NY 11217
INVESTMENT HIGHLIGHTS
- The property, spanning 4,324 square feet, offers 2 historically free-market apartments with strong in-place rents in a high rental demand location.
- Offering stable in-place income and an attractive 6.3% cap rate in place with room to grow in to over a 7% cap rate with light renovation.
- The Eastville Comedy Club, a long-standing local favorite, provides income stability through a strong rent of $13,134 per month.
- With 4,174 square feet of additional air rights, 487 Atlantic Avenue offers unique development potential on a prime Brooklyn retail corridor
PROPERTY FACTS
| Price | $3,595,000 | Apartment Style | Low-Rise |
| Price Per Unit | $1,797,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 6.30% | Building Size | 4,324 SF |
| No. Units | 2 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | ||
| Zoning | R7A - A medium-density, contextual residential district under the Quality Housing Program, primarily for seven- to nine-story apartment buildings that blend with established neighborhoods. | ||
| Price | $3,595,000 |
| Price Per Unit | $1,797,500 |
| Sale Type | Investment |
| Cap Rate | 6.30% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 4,324 SF |
| No. Stories | 3 |
| Year Built | 1920 |
| Zoning | R7A - A medium-density, contextual residential district under the Quality Housing Program, primarily for seven- to nine-story apartment buildings that blend with established neighborhoods. |
1 1
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 00179-0047 | Improvements Assessment | $169,920 |
| Land Assessment | $15,660 | Total Assessment | $185,580 |
PROPERTY TAXES
Parcel Number
00179-0047
Land Assessment
$15,660
Improvements Assessment
$169,920
Total Assessment
$185,580
1 of 5
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
487 Atlantic Avenue | 487 Atlantic Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.