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520 Union Ave 5 Unit Apartment Building $4,650,000 ($930,000/Unit) 6.30% Cap Rate Brooklyn, NY 11211
Investment Highlights
- 3-Story Walkup | Corner Building
- Located at the corner of Union Ave & Jackson St Steps away from McCarren Park & G/L Train
- Opportunity for painted signage/branding for new owner
- Brand New Luxurious Renovations | In-Unit W/D
- Steps from Lillia Restaurant
- Prime visibility from BQE
Executive Summary
100% Free Market investment opportunity located at the intersection of Union Avenue and Jackson Street. This meticulously renovated building has undergone a complete gut renovation, featuring high-end, condo-quality finishes throughout. Each unit is equipped with modern conveniences, including in-unit washer/dryer, dishwasher, split unit systems, and flat screen TVs. Layouts include 1 5BR & 4 2BR, fully electric with independent Water Heaters, no gas in building, full gut renovation ~1.5 years ago, new Roof, waterproofing, and brick repointing.
The property comprises five distinct apartments: a spacious five-bedroom duplex on the first floor with exclusive access to a private backyard, and four well-appointed two-bedroom units on the second and third floors.
The property is located within walking distance to the G & L subway lines.
The property comprises five distinct apartments: a spacious five-bedroom duplex on the first floor with exclusive access to a private backyard, and four well-appointed two-bedroom units on the second and third floors.
The property is located within walking distance to the G & L subway lines.
Property Facts
| Price | $4,650,000 | Apartment Style | Low-Rise |
| Price Per Unit | $930,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 6.30% | Building Size | 4,500 SF |
| Gross Rent Multiplier | 14.14 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1928/2012 |
| Property Subtype | Apartment | ||
| Zoning | M1-2/R6A, MX-8 - Multifamily walk-up apartment buildings, five to six family | ||
| Price | $4,650,000 |
| Price Per Unit | $930,000 |
| Sale Type | Investment |
| Cap Rate | 6.30% |
| Gross Rent Multiplier | 14.14 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 4,500 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1928/2012 |
| Zoning | M1-2/R6A, MX-8 - Multifamily walk-up apartment buildings, five to six family |
Amenities
Unit Amenities
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 650 |
| 5+3 | 1 | - | 1,500 |
1 1
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (93)
Property Taxes
| Parcel Number | 02741-0001 | Improvements Assessment | $1,024,200 |
| Land Assessment | $4,500 | Total Assessment | $1,028,700 |
Property Taxes
Parcel Number
02741-0001
Land Assessment
$4,500
Improvements Assessment
$1,024,200
Total Assessment
$1,028,700
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520 Union Ave
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