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538 Bainbridge St 6 Unit Apartment Building $1,500,000 ($250,000/Unit) 7.23% Cap Rate Brooklyn, NY 11233
INVESTMENT HIGHLIGHTS
- Cash flowing: Great investment for someone looking to park capital in a cash flowing asset with long-term upside in neighborhood appreciation and loca
- Tax Class Protected: 2A Tax Class limits tax increase to no more than 8% a year or 30% over 5 years.
- Excellent Transportation Access: Conveniently located two blocks from the J, Z Train, allowing for quick and easy transport to Williamsburg and NYC.
- Building Structure: Dimensions of 25.5’ x 73’ with air shafts provide spacious and bright layouts.
- Premier Location: located on Idyllic Street, two blocks from Broadway.
EXECUTIVE SUMMARY
Broker of Record
Cory Rosenthal
License # 10991237833 (NY)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Cory Rosenthal
License # 10991237833 (NY)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
PROPERTY FACTS
| Price | $1,500,000 | Building Class | C |
| Price Per Unit | $250,000 | Lot Size | 0.06 AC |
| Sale Type | Investment | Building Size | 5,585 SF |
| Cap Rate | 7.23% | Average Occupancy | 100% |
| Gross Rent Multiplier | 10 | No. Stories | 3 |
| No. Units | 6 | Year Built | 1907 |
| Property Type | Multifamily | Parking Ratio | 1.07/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R6 | ||
| Price | $1,500,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| Cap Rate | 7.23% |
| Gross Rent Multiplier | 10 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,585 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1907 |
| Parking Ratio | 1.07/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R6 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 4 | - | - |
1 1
Walk Score®
Walker's Paradise (90)
Transit Score®
Rider's Paradise (100)
PROPERTY TAXES
| Parcel Number | 01510-0027 | Improvements Assessment | $399,150 |
| Land Assessment | $6,300 | Total Assessment | $405,450 |
PROPERTY TAXES
Parcel Number
01510-0027
Land Assessment
$6,300
Improvements Assessment
$399,150
Total Assessment
$405,450
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538 Bainbridge St
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