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577 New Lots Ave
Brooklyn, NY 11207
Multifamily Property For Sale
·
11 Units
Investment Highlights
- Low Maintenance: Building was renovated in 2015 and has been well maintained since, with no need for short term capital improvements
- Excellent Light & Air: Side and rear air shafts provide units with substantial light and air, allowing for efficient unit layouts
- Protected Tax Class: 2B Tax Class limits tax increase to no more than 8% a year or 30% over 5 years
- Though the 8 residential units are rent stabilized, current leases have preferential rents in place, with ~15% upside in legal rents
- Separate Utilities: Tenants are responsible for their own electric, heat & hot water
- Within 2 blocks of the 3-train at Van Siclen Avenue, offering access to Atlantic Terminal and FiDi within 30-45 minutes
Property Facts
| No. Units | 11 | Lot Size | 0.06 AC |
| Property Type | Multifamily | Building Size | 5,778 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1915 |
| Building Class | B | ||
| Zoning | R5, Brooklyn | ||
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 5,778 SF |
| No. Stories | 3 |
| Year Built | 1915 |
| Zoning | R5, Brooklyn |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | - |
Property Taxes
| Parcel Number | 04088-0038 | Improvements Assessment | $333,900 |
| Land Assessment | $8,550 | Total Assessment | $342,450 |
Property Taxes
Parcel Number
04088-0038
Land Assessment
$8,550
Improvements Assessment
$333,900
Total Assessment
$342,450
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