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487 Atlantic Ave
Brooklyn, NY 11217
Multifamily Property For Sale
·
2 Units
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
| No. Units | 2 | Lot Size | 0.05 AC |
| Property Type | Multifamily | Building Size | 3,601 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1920 |
| Building Class | C | ||
| 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. | ||
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 3,601 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. |
Property Taxes
| Parcel Number | 00179-0047 | Improvements Assessment | $190,740 |
| Land Assessment | $15,660 | Total Assessment | $206,400 |
Property Taxes
Parcel Number
00179-0047
Land Assessment
$15,660
Improvements Assessment
$190,740
Total Assessment
$206,400
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