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584 Myrtle Ave 8 Unit Apartment Building $6,500,000 ($812,500/Unit) 5.38% Cap Rate Brooklyn, NY 11205
EXECUTIVE SUMMARY
• Corner, mixed-use building consisting of 8 apartments and 1 commercial space
• 88% Free Market
• Protected Tax Class 2B
• 3,377 SF of available Air Rights
• Value-add potential with rents approximately 20% below the market rate
• Located in Brooklyn’s sought-after Clinton Hill neighborhood, this property offers
unmatched access to dining, shopping, parks, and transportation
• Within walking distance to the Classon Ave Station ( train)
• 88% Free Market
• Protected Tax Class 2B
• 3,377 SF of available Air Rights
• Value-add potential with rents approximately 20% below the market rate
• Located in Brooklyn’s sought-after Clinton Hill neighborhood, this property offers
unmatched access to dining, shopping, parks, and transportation
• Within walking distance to the Classon Ave Station ( train)
PROPERTY FACTS
| Price | $6,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $812,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 5.38% | Building Size | 8,235 SF |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1932 |
| Property Subtype | Apartment | ||
| Zoning | C2-4/R7A - Commercial district predominantly residential in character | ||
| Price | $6,500,000 |
| Price Per Unit | $812,500 |
| Sale Type | Investment |
| Cap Rate | 5.38% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.07 AC |
| Building Size | 8,235 SF |
| No. Stories | 3 |
| Year Built | 1932 |
| Zoning | C2-4/R7A - Commercial district predominantly residential in character |
AMENITIES
UNIT AMENITIES
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
1 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (90)
Bike Score®
Biker's Paradise (98)
PROPERTY TAXES
| Parcel Number | 01909-0032 | Improvements Assessment | $302,400 |
| Land Assessment | $45,000 | Total Assessment | $347,400 |
PROPERTY TAXES
Parcel Number
01909-0032
Land Assessment
$45,000
Improvements Assessment
$302,400
Total Assessment
$347,400
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584 Myrtle Ave
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