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861 Broadway 9 Unit Apartment Building $4,500,000 ($500,000/Unit) 7.89% Cap Rate Brooklyn, NY 11206
Investment Highlights
- The ground-floor commercial space (1,035) is on a M-T-M lease, offering an owner-user opportunity on one of the most foot traffic corners in Brooklyn
- 861 Broadway commands a highly visible corner position on one of Bushwick's most active commercial corridors
- The ground-floor retail space (1,035 SF) is currently leased at $7,132/month on a month-to-month basis
- All 9 residential units are free market, offering an investor full flexibility to set rents at market rate — an increasingly rare find in Bushwick
- The property generates $470,484 in gross annual income with an NOI of $355,226, providing immediate and stable cash flow from day one
- Located near the J & M subway lines, providing residents with direct access to Williamsburg and Manhattan in under 25 minute
Executive Summary
Cory Rosenthal
License # 10311210106, 10991237833 (NY)
Matthews Real Estate Investment Services, Inc
575 5th Ave., Ste 2810 New York, NY 10017
(866) 889-0550
License # 10311210106, 10991237833 (NY)
Matthews Real Estate Investment Services, Inc
575 5th Ave., Ste 2810 New York, NY 10017
(866) 889-0550
Property Facts
| Price | $4,500,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $500,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 7.89% | Building Size | 8,250 SF |
| No. Units | 9 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1931 |
| Property Subtype | Apartment | ||
| Zoning | C8-2 - Commercial/manufacturing. | ||
| Price | $4,500,000 |
| Price Per Unit | $500,000 |
| Sale Type | Investment |
| Cap Rate | 7.89% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 8,250 SF |
| No. Stories | 4 |
| Year Built | 1931 |
| Zoning | C8-2 - Commercial/manufacturing. |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 5 | - | - |
| 2+1 | 4 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 03135-0008 | Improvements Assessment | $770,400 |
| Land Assessment | $144,900 | Total Assessment | $915,300 |
Property Taxes
Parcel Number
03135-0008
Land Assessment
$144,900
Improvements Assessment
$770,400
Total Assessment
$915,300
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861 Broadway
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