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750 Washington Ave 16 Unit Apartment Building $5,400,000 ($337,500/Unit) 6.50% Cap Rate Brooklyn, NY 11238
Investment Highlights
- 16 Unit Multifamily
- Mostly Free Market
- $699/sf and $337,500/unit
- Renovated
Executive Summary
The New York Multifamily team at Marcus & Millichap is proud to present 750 Washington Avenue to the market. The subject property is an expertly maintained and updated 16-unit multifamily building in Prospect Heights, Brooklyn, offered at $5,400,000 at a 6.5% cap rate. The asset produces strong in-place cash flow and a high current yield relative to the submarket, positioning it for an investor focused on stabilize, income-producing Brooklyn multifamily.
The building sits on Washington Avenue between the Brooklyn Botanic Garden and the Brooklyn Museum, along one of Prospect Heights' most established residential corridors. Transportation access is excellent: the 2 and 3 trains at Eastern Parkway–Brooklyn Museum and the C train at Clinton–Washington Avenues are both a short walk away, providing direct service to Downtown Brooklyn and Manhattan.
Comprising 7,720 square feet, the property is priced at $699 per square foot ($337,500 per unit) — an attractive basis for a cash-flowing asset in a strong location. Most of the building has been renovated.
The building sits on Washington Avenue between the Brooklyn Botanic Garden and the Brooklyn Museum, along one of Prospect Heights' most established residential corridors. Transportation access is excellent: the 2 and 3 trains at Eastern Parkway–Brooklyn Museum and the C train at Clinton–Washington Avenues are both a short walk away, providing direct service to Downtown Brooklyn and Manhattan.
Comprising 7,720 square feet, the property is priced at $699 per square foot ($337,500 per unit) — an attractive basis for a cash-flowing asset in a strong location. Most of the building has been renovated.
Property Facts
| Price | $5,400,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $337,500 | Building Class | B |
| Cap Rate | 6.50% | Lot Size | 0.06 AC |
| No. Units | 16 | Building Size | 7,720 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1920 |
| Zoning | R6A - Medium density residential district | ||
| Price | $5,400,000 |
| Price Per Unit | $337,500 |
| Cap Rate | 6.50% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 7,720 SF |
| No. Stories | 4 |
| Year Built | 1920 |
| Zoning | R6A - Medium density residential district |
Amenities
Unit Amenities
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 737 |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 01166-0053 | Improvements Assessment | $611,100 |
| Land Assessment | $42,750 | Total Assessment | $653,850 |
Property Taxes
Parcel Number
01166-0053
Land Assessment
$42,750
Improvements Assessment
$611,100
Total Assessment
$653,850
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750 Washington Ave
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