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792 Hart St 6 Unit Apartment Building $2,400,000 ($400,000/Unit) 6.62% Cap Rate Brooklyn, NY 11237
Investment Highlights
- Minimal Rent Regulation: Five of the six units are free market and renovated.
- Highly Efficient: Each renovated unit is responsible for their own utilities.
- Transportation Accessibility: The L and M train lines are within 3-5 blocks away, offering access to Williamsburg and Union Square within 25 minutes.
- Cashflow + Upside: Currently grossing $210K / year, with natural upside as Bushwick continues to appreciate.
- Owner-User Opportunity: The building and neighborhood lend well to a hybrid owner/user/investor living in one or more of the units and renting out the
- Protected Tax Class: 2B tax class limits tax increases to no more than 8% a year or 30% over 5 years.
Executive Summary
Broker of Record
Cory Rosenthal
License # 10991237833, 10311210106
Matthews Real Estate Investment Services, Inc
575 5th Ave., Ste 2810 New York, NY 10017
(866) 889-0550
Cory Rosenthal
License # 10991237833, 10311210106
Matthews Real Estate Investment Services, Inc
575 5th Ave., Ste 2810 New York, NY 10017
(866) 889-0550
Property Facts
| Price | $2,400,000 | Apartment Style | Low-Rise |
| Price Per Unit | $400,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 6.62% | Building Size | 4,875 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1931 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R6, Brooklyn - R6 - Medium density residential district | ||
| Price | $2,400,000 |
| Price Per Unit | $400,000 |
| Sale Type | Investment |
| Cap Rate | 6.62% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 4,875 SF |
| No. Stories | 3 |
| Year Built | 1931 |
| Opportunity Zone |
Yes |
| Zoning | R6, Brooklyn - R6 - Medium density residential district |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 3+1 | 1 | - | - |
| 3+2 | 4 | - | - |
1 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (96)
Property Taxes
| Parcel Number | 03235-0023 | Improvements Assessment | $512,100 |
| Land Assessment | $5,400 | Total Assessment | $517,500 |
Property Taxes
Parcel Number
03235-0023
Land Assessment
$5,400
Improvements Assessment
$512,100
Total Assessment
$517,500
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Videos
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792 Hart St
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