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530 Sutter Ave - 530 Sutter Avenue 3 Unit Apartment Building Offered at $1,150,000 at a 9.28% Cap Rate Brooklyn, NY 11207
EXECUTIVE SUMMARY
The Yarmush Group is pleased to present 530 Sutter Avenue for sale. The property consists of a 3 story building with 2 vacant renovated 3 bedroom apartments over a retail space paying $3,500. Please see highlight below for the deal:
- Renovated apartments requiring minimal to zero capital expenditures prior to lease up
- Ability to achieve above a 9% cap once fully leased
- 2 Blocks away from the L train Station getting your tenants into the city in under a half hour. This pocket of East New York is positioned to appreciate in time.
- The property taxes are $4,898 annually and is in tax class protected, tax class 1 which has the best cap on what the increases can be year over year. (6% per year or 20% over 5 years).
- Renovated apartments requiring minimal to zero capital expenditures prior to lease up
- Ability to achieve above a 9% cap once fully leased
- 2 Blocks away from the L train Station getting your tenants into the city in under a half hour. This pocket of East New York is positioned to appreciate in time.
- The property taxes are $4,898 annually and is in tax class protected, tax class 1 which has the best cap on what the increases can be year over year. (6% per year or 20% over 5 years).
PROPERTY FACTS
| Price | $1,150,000 | Lot Size | 0.05 AC |
| Price Per Unit | $383,333 | Building Size | 3,120 SF |
| Sale Type | Investment | Average Occupancy | 33% |
| Cap Rate | 9.28% | No. Stories | 3 |
| Gross Rent Multiplier | 8.62 | Year Built/Renovated | 1935/2025 |
| No. Units | 3 | Opportunity Zone |
Yes
|
| Property Type | Multifamily | ||
| Zoning | C4-3 | ||
| Price | $1,150,000 |
| Price Per Unit | $383,333 |
| Sale Type | Investment |
| Cap Rate | 9.28% |
| Gross Rent Multiplier | 8.62 |
| No. Units | 3 |
| Property Type | Multifamily |
| Lot Size | 0.05 AC |
| Building Size | 3,120 SF |
| Average Occupancy | 33% |
| No. Stories | 3 |
| Year Built/Renovated | 1935/2025 |
| Opportunity Zone |
Yes |
| Zoning | C4-3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 6+2 | 3 | - | - |
1 1
Walk Score®
Very Walkable (88)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 03767-0024 | Improvements Assessment | $30,120 |
| Land Assessment | $8,460 | Total Assessment | $38,580 |
PROPERTY TAXES
Parcel Number
03767-0024
Land Assessment
$8,460
Improvements Assessment
$30,120
Total Assessment
$38,580
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530 Sutter Ave - 530 Sutter Avenue
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