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844 Flatbush - 9.9 Cap 844 Flatbush Ave 14 Unit Apartment Building $1,735,000 ($123,929/Unit) 9.90% Cap Rate Brooklyn, NY 11226
INVESTMENT HIGHLIGHTS
- Positioned along one of Brooklyn’s busiest retail corridors, just steps from the Church Avenue subway hub.
- Limited competing inventory and steady neighborhood development create strong fundamentals for rent growth and appreciation.
- Surrounded by national retailers and dense residential housing, supporting long-term demand across asset classes.
- The property is surrounded by strong local & national retailers, excellent transit access, & a growing residential base that continues to drive demand
EXECUTIVE SUMMARY
New York Multifamily is pleased to offer 844 Flatbush Avenue, located in the heart of the bustling Flatbush neighborhood of Brooklyn. Positioned between Caton Avenue and Linden Boulevard, this mixed-use property offers investors a rare opportunity to acquire a stabilized asset in one of the borough’s most active retail and residential corridors. The property is surrounded by strong local and national retailers, excellent transit access, and a growing residential base that continues to drive demand.
Built for resilient in-place cash flow and long-term appreciation, the property comprises 12 residential units and 2 commercial spaces, totaling approximately 8,720 square feet across four stories. With a 9.9% in-place cap rate, 12.17% pro forma cash-on-cash return, and an average residential rent of just $1,306/month, the asset presents significant operational and financial efficiency at acquisition. Investors will benefit from strong tenancy across both residential and retail components, while modest interior upgrades to select units can unlock immediate revenue growth. Situated steps from the Church Avenue subway station and major commercial anchors, 844 Flatbush Avenue is uniquely positioned to outperform in both upcycles and market corrections.
• THE BUILDING
Well-maintained mixed-use property featuring 12 residential units above 2 ground-floor retail spaces with strong frontage on Flatbush Avenue. The asset benefits from high foot traffic, clean tenancy, and light value-add potential in select units.
• THE METRICS
9.9% Cap Rate | 5.3x GRM | $123,929 Price Per Unit | $199 Price Per Sqft | 12.17% Cash-On-Cash
• PRIME LOCATION – FLATBUSH CORRIDOR
Positioned along one of Brooklyn’s busiest retail corridors, just steps from the Church Avenue subway hub. Surrounded by national retailers and
dense residential housing, supporting long-term demand across asset classes.
• GROWTH POTENTIAL
Limited competing inventory and steady neighborhood development create strong fundamentals for rent growth and appreciation. Light renovations to interiors and common areas can unlock additional upside while maintaining in-place cash flow.
Built for resilient in-place cash flow and long-term appreciation, the property comprises 12 residential units and 2 commercial spaces, totaling approximately 8,720 square feet across four stories. With a 9.9% in-place cap rate, 12.17% pro forma cash-on-cash return, and an average residential rent of just $1,306/month, the asset presents significant operational and financial efficiency at acquisition. Investors will benefit from strong tenancy across both residential and retail components, while modest interior upgrades to select units can unlock immediate revenue growth. Situated steps from the Church Avenue subway station and major commercial anchors, 844 Flatbush Avenue is uniquely positioned to outperform in both upcycles and market corrections.
• THE BUILDING
Well-maintained mixed-use property featuring 12 residential units above 2 ground-floor retail spaces with strong frontage on Flatbush Avenue. The asset benefits from high foot traffic, clean tenancy, and light value-add potential in select units.
• THE METRICS
9.9% Cap Rate | 5.3x GRM | $123,929 Price Per Unit | $199 Price Per Sqft | 12.17% Cash-On-Cash
• PRIME LOCATION – FLATBUSH CORRIDOR
Positioned along one of Brooklyn’s busiest retail corridors, just steps from the Church Avenue subway hub. Surrounded by national retailers and
dense residential housing, supporting long-term demand across asset classes.
• GROWTH POTENTIAL
Limited competing inventory and steady neighborhood development create strong fundamentals for rent growth and appreciation. Light renovations to interiors and common areas can unlock additional upside while maintaining in-place cash flow.
PROPERTY FACTS
| Price | $1,735,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $123,929 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 9.90% | Building Size | 8,720 SF |
| Gross Rent Multiplier | 5.3 | Average Occupancy | 92% |
| No. Units | 14 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1914 |
| Property Subtype | Apartment | ||
| Zoning | R7A C2-4 - R7 districts are medium-density apartment house districts | ||
| Price | $1,735,000 |
| Price Per Unit | $123,929 |
| Sale Type | Investment |
| Cap Rate | 9.90% |
| Gross Rent Multiplier | 5.3 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 8,720 SF |
| Average Occupancy | 92% |
| No. Stories | 4 |
| Year Built | 1914 |
| Zoning | R7A C2-4 - R7 districts are medium-density apartment house districts |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- On-Site Retail
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | - | 643 |
1 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Number | 05082-0026 | Improvements Assessment | $550,350 |
| Land Assessment | $130,500 | Total Assessment | $680,850 |
PROPERTY TAXES
Parcel Number
05082-0026
Land Assessment
$130,500
Improvements Assessment
$550,350
Total Assessment
$680,850
CONTACTS
-
Seth Glasser -
Michael Fusco -
Daniel Greenblatt -
Benjamin Myerow -
Christopher Mehran -
Marcus & Millichap
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
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844 Flatbush - 9.9 Cap | 844 Flatbush Ave
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