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731 E 32nd St
Brooklyn, NY 11210
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Newly developed walk-up building with a total of 6 luxury residential units
- New 35-year Affordable NY Tax Abatement 70% Free-Market/30% Affordable
- Within walking distance to the Flatbush Avenue Station (2 train)
- The building is 65’ deep, offering spacious unit layouts with high ceilings
- The property is located in the Flatbush section of Brooklyn, near shopping, dining and entertainment options
Executive Summary
Alpha Realty presents this newly constructed 4-story, 6-unit luxury walk-up building offers a rare investment opportunity in the vibrant Flatbush neighborhood of Brooklyn. Completed in 2021, the property spans approximately 4,860 SF and features spacious layouts with deep floor plans and high ceilings, enhancing its appeal to tenants seeking modern living spaces. The building benefits from a strong unit mix, accommodating different household needs while maintaining operational efficiency for investors.
Positioned on East 32nd Street between Glenwood Road and Avenue H, the property provides convenient access to essential transportation links, including the Flatbush Avenue Subway Station serving the 2 train, ensuring connectivity to Manhattan and other boroughs. Residents enjoy a wide array of local amenities such as shopping centers, dining establishments, and entertainment venues throughout Flatbush.
Offering a Net Operating Income of approximately $195,488 and a 6.9% cap rate, this asset combines robust in-place income with long-term growth potential. Additionally, the property benefits from a 35-year Affordable New York Tax Abatement, featuring a 70% Free-Market and 30% Affordable mix, which enhances financial performance and reduces tax exposure for decades to come. With competitive pricing and strong demand for residential rentals in Brooklyn, this property represents a compelling addition to any multifamily investment portfolio.
Positioned on East 32nd Street between Glenwood Road and Avenue H, the property provides convenient access to essential transportation links, including the Flatbush Avenue Subway Station serving the 2 train, ensuring connectivity to Manhattan and other boroughs. Residents enjoy a wide array of local amenities such as shopping centers, dining establishments, and entertainment venues throughout Flatbush.
Offering a Net Operating Income of approximately $195,488 and a 6.9% cap rate, this asset combines robust in-place income with long-term growth potential. Additionally, the property benefits from a 35-year Affordable New York Tax Abatement, featuring a 70% Free-Market and 30% Affordable mix, which enhances financial performance and reduces tax exposure for decades to come. With competitive pricing and strong demand for residential rentals in Brooklyn, this property represents a compelling addition to any multifamily investment portfolio.
Property Facts
| Price Per Unit | $475,000 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 6.86% | Lot Size | 0.09 AC |
| No. Units | 6 | Building Size | 4,550 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 2023 |
| Zoning | R6 - residential | ||
| Price Per Unit | $475,000 |
| Sale Type | Investment |
| Cap Rate | 6.86% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.09 AC |
| Building Size | 4,550 SF |
| No. Stories | 4 |
| Year Built | 2023 |
| Zoning | R6 - residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
Property Taxes
| Parcel Number | 07560-0032 | Improvements Assessment | $375,750 |
| Land Assessment | $71,550 | Total Assessment | $447,300 |
Property Taxes
Parcel Number
07560-0032
Land Assessment
$71,550
Improvements Assessment
$375,750
Total Assessment
$447,300
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