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762-764 E 32nd St 16 Unit Apartment Building $5,900,000 ($368,750/Unit) 6.82% Cap Rate Brooklyn, NY 11210
Investment Highlights
- Two adjacent newly constructed multifamily buildings in East Flatbush, Brooklyn.
- Total of 16 residential units, which includes 2 onebedrooms, 12 two-bedrooms, and 2 three-bedrooms
- Four stories and consist of 10,780 SF
- 421-A tax exemption in place through 2055.
Executive Summary
Two adjacent newly constructed multifamily buildings in East Flatbush, Brooklyn.
The buildings are four stories and consist of 10,780 SF.
There is a total of 16 residential units, which includes 2 onebedrooms, 12 two-bedrooms, and 2 three-bedrooms.
421-A tax exemption in place through 2055.
Near Flatbush Avenue–Brooklyn College [2,5] Subway Station.
Close to major retailers including Target, Blink Fitness, and Key Food Supermarket.
The buildings are four stories and consist of 10,780 SF.
There is a total of 16 residential units, which includes 2 onebedrooms, 12 two-bedrooms, and 2 three-bedrooms.
421-A tax exemption in place through 2055.
Near Flatbush Avenue–Brooklyn College [2,5] Subway Station.
Close to major retailers including Target, Blink Fitness, and Key Food Supermarket.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$525,492
|
$38.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$15,765
|
$1.17
|
| Effective Gross Income |
$509,727
|
$37.69
|
| Taxes |
$4,032
|
$0.30
|
| Operating Expenses |
$68,444
|
$5.06
|
| Total Expenses |
$72,476
|
$5.36
|
| Net Operating Income |
$437,251
|
$32.33
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $525,492 |
| Annual Per SF | $38.85 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $15,765 |
| Annual Per SF | $1.17 |
| Effective Gross Income | |
|---|---|
| Annual | $509,727 |
| Annual Per SF | $37.69 |
| Taxes | |
|---|---|
| Annual | $4,032 |
| Annual Per SF | $0.30 |
| Operating Expenses | |
|---|---|
| Annual | $68,444 |
| Annual Per SF | $5.06 |
| Total Expenses | |
|---|---|
| Annual | $72,476 |
| Annual Per SF | $5.36 |
| Net Operating Income | |
|---|---|
| Annual | $437,251 |
| Annual Per SF | $32.33 |
Property Facts
| Price | $5,900,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $368,750 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 6.82% | Building Size | 13,525 SF |
| No. Units | 16 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2021 |
| Property Subtype | Apartment | ||
| Zoning | R6A - Medium density residential district | ||
| Price | $5,900,000 |
| Price Per Unit | $368,750 |
| Sale Type | Investment |
| Cap Rate | 6.82% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.05 AC |
| Building Size | 13,525 SF |
| No. Stories | 4 |
| Year Built | 2021 |
| Zoning | R6A - Medium density residential district |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 12 | - | - |
| 3+1.5 | 2 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 07559-0068 | Total Assessment | $363,600 |
| Land Assessment | $67,500 | Annual Taxes | $4,032 ($0.30/SF) |
| Improvements Assessment | $296,100 | Tax Year | 2025 |
Property Taxes
Parcel Number
07559-0068
Land Assessment
$67,500
Improvements Assessment
$296,100
Total Assessment
$363,600
Annual Taxes
$4,032 ($0.30/SF)
Tax Year
2025
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762-764 E 32nd St
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