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9052 Fort Hamilton Pky 5 Unit Apartment Building $1,700,000 ($340,000/Unit) Brooklyn, NY 11209
Investment Highlights
- 7.74% Proforma Cap Rate — significant yield for a free-market Brooklyn asset in a prime residential neighborhood
- Protected Tax Class 2A with low annual taxes
- Prime Bay Ridge location between 90th and 92nd Streets with close proximity to the 86th Street retail corridor
- Nearly 50% upside to market rents
- Five apartments (three 1BR / two 2BR) + one retail storefront — diversified income stream with strong residential and commercial demand
- Steps from the 95th Street (R) subway station with direct service to Manhattan
Executive Summary
Investment Property Realty Group (IPRG) is pleased to exclusively present the opportunity to acquire 9052 Fort Hamilton Parkway, a free-market mixed-use building located in the heart of Bay Ridge, Brooklyn. The property is situated on Fort Hamilton Parkway between 90th and 92nd Street, in close proximity to the prime 86th Street retail corridor.
The subject property consists of five residential apartments (three 1BR / two 2BR) above one retail storefront. The property benefits from the protected Tax Class 2A designation with low annual taxes. With a current rent roll of $121,800 and a clear path to a proforma income of $181,200, the asset presents nearly 50% upside to market rents at a 7.74% proforma cap rate.
The property is located steps from the 95th Street (R) subway station, providing convenient access to Manhattan and the rest of Brooklyn.
The subject property consists of five residential apartments (three 1BR / two 2BR) above one retail storefront. The property benefits from the protected Tax Class 2A designation with low annual taxes. With a current rent roll of $121,800 and a clear path to a proforma income of $181,200, the asset presents nearly 50% upside to market rents at a 7.74% proforma cap rate.
The property is located steps from the 95th Street (R) subway station, providing convenient access to Manhattan and the rest of Brooklyn.
Property Facts
| Price | $1,700,000 | Building Class | C |
| Price Per Unit | $340,000 | Lot Size | 0.04 AC |
| Sale Type | Investment | Building Size | 4,500 SF |
| No. Units | 5 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1927 |
| Apartment Style | Low-Rise | ||
| Zoning | R5B | ||
| Price | $1,700,000 |
| Price Per Unit | $340,000 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 4,500 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1927 |
| Zoning | R5B |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Sprinkler System
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| 2+1 | 2 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 06089-0053 | Improvements Assessment | $305,100 |
| Land Assessment | $13,050 | Total Assessment | $318,150 |
Property Taxes
Parcel Number
06089-0053
Land Assessment
$13,050
Improvements Assessment
$305,100
Total Assessment
$318,150
Contacts
-
Matt Dittmeier -
Derek Bestreich -
Adam Lobel -
Toby Waring -
Investment Property Realty Group
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9052 Fort Hamilton Pky
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