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870 Hancock St 5 Unit Apartment Building $2,050,000 ($410,000/Unit) 6.06% Cap Rate Brooklyn, NY 11233
Investment Highlights
- All Units are Free Market
- One Unit has Private Backyard and W/D in Unit
- All of the Five Units are Renovated/Updated
Executive Summary
Investment Property Realty Group (IPRG) has been exclusively retained to sell 870 Hancock St, a fully renovated 5-unit brownstone located in the Bedford-Stuyvesant section of Brooklyn.
The property features one spacious 3-bedroom ground-floor unit, complete with an in-unit washer and dryer and exclusive access to a private backyard. The remaining four units are well-appointed 1-bedroom apartments. The building measures 18 x 55 feet, totaling 2,970 square feet. The building operates as a free-market property and benefits from a protected Tax Class 2A status with annual taxes of $5,302.
Conveniently situated just one block from the Halsey J train station, the property provides excellent access to public transportation.
The property features one spacious 3-bedroom ground-floor unit, complete with an in-unit washer and dryer and exclusive access to a private backyard. The remaining four units are well-appointed 1-bedroom apartments. The building measures 18 x 55 feet, totaling 2,970 square feet. The building operates as a free-market property and benefits from a protected Tax Class 2A status with annual taxes of $5,302.
Conveniently situated just one block from the Halsey J train station, the property provides excellent access to public transportation.
Property Facts
| Price | $2,050,000 | Property Subtype | Apartment |
| Price Per Unit | $410,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.06% | Lot Size | 0.03 AC |
| Gross Rent Multiplier | 13.25 | Building Size | 2,970 SF |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1905 |
| Zoning | R6B | ||
| Price | $2,050,000 |
| Price Per Unit | $410,000 |
| Sale Type | Investment |
| Cap Rate | 6.06% |
| Gross Rent Multiplier | 13.25 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.03 AC |
| Building Size | 2,970 SF |
| No. Stories | 3 |
| Year Built | 1905 |
| Zoning | R6B |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 1 | - | - |
| 1+1 | 4 | - | - |
1 1
Walk Score®
Walker's Paradise (94)
Transit Score®
Rider's Paradise (99)
Bike Score®
Very Bikeable (71)
Property Taxes
| Parcel Number | 01490-0040 | Improvements Assessment | $310,050 |
| Land Assessment | $57,600 | Total Assessment | $367,650 |
Property Taxes
Parcel Number
01490-0040
Land Assessment
$57,600
Improvements Assessment
$310,050
Total Assessment
$367,650
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870 Hancock St
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