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60 New York Ave 8 Unit Apartment Building $4,650,000 ($581,250/Unit) 7.30% Cap Rate Brooklyn, NY 11216
Investment Highlights
- Offering Price: $4,650,000
- Price per Unit: $581,250
- 7.3% current cap rate
- Price per SF: $485
- Fully residential 8-unit Brooklyn asset.
- 100% free market
Executive Summary
This fully renovated multifamily building is located at 60 New York Avenue in Crown Heights, Brooklyn. The property features 8 residential units with 4 bedrooms each, totaling 9,584 square feet. $840,000 was spent on renovations with a backup proper deregulation file.
The building is 100% free market and fully occupied. Units 1L and 1R can be duplexed into the basement with private backyard access that can be built out to capture additional upside in rent.
The building is 100% free market and fully occupied. Units 1L and 1R can be duplexed into the basement with private backyard access that can be built out to capture additional upside in rent.
Property Facts
| Price | $4,650,000 | Property Subtype | Apartment |
| Price Per Unit | $581,250 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.30% | Lot Size | 0.08 AC |
| Gross Rent Multiplier | 11 | Building Size | 9,584 SF |
| No. Units | 8 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1931 |
| Zoning | C8-2 | ||
| Price | $4,650,000 |
| Price Per Unit | $581,250 |
| Sale Type | Investment |
| Cap Rate | 7.30% |
| Gross Rent Multiplier | 11 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 9,584 SF |
| No. Stories | 4 |
| Year Built | 1931 |
| Zoning | C8-2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+2 | 8 | - | 1,198 |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 01201-0035 | Improvements Assessment | $744,750 |
| Land Assessment | $65,250 | Total Assessment | $810,000 |
Property Taxes
Parcel Number
01201-0035
Land Assessment
$65,250
Improvements Assessment
$744,750
Total Assessment
$810,000
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