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expired J-51! FREE MARKET BUILDING Prospect Park South POST J51 DEAL !!! 19 Unit Apartment Building $3,300,000 ($173,684/Unit) 7.97% Cap Rate Brooklyn, NY 11226
Investment Highlights
- BUILDING FULLY GUT RENOVATED IN 1990
- MANY UNITS GUT RENOVATED IN THE LAST 5 YEARS
- EXTRA DEVELOPMENT RIGHTS
- BUILDING IS FULLY FREE MARKET (SOME TENANTS HAVE RENT STABILSATION RIGHTS)
- B AND Q TRAIN ON CORNER
Executive Summary
This building was fully got renovated with a brand new certificate of occupancy in 1990.
The building was stabilized only through a J51 which has expired as of this year and now the building is fully free market.
Many of the apartments have been renovated beautifully by the current ownership.
projected cap rate : 15% CAP
The building was stabilized only through a J51 which has expired as of this year and now the building is fully free market.
Many of the apartments have been renovated beautifully by the current ownership.
projected cap rate : 15% CAP
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$436,979
|
$20.81
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$436,979
|
$20.81
|
| Taxes |
$72,152
|
$3.44
|
| Operating Expenses |
$101,600
|
$4.84
|
| Total Expenses |
$173,752
|
$8.27
|
| Net Operating Income |
$263,227
|
$12.53
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $436,979 |
| Annual Per SF | $20.81 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $436,979 |
| Annual Per SF | $20.81 |
| Taxes | |
|---|---|
| Annual | $72,152 |
| Annual Per SF | $3.44 |
| Operating Expenses | |
|---|---|
| Annual | $101,600 |
| Annual Per SF | $4.84 |
| Total Expenses | |
|---|---|
| Annual | $173,752 |
| Annual Per SF | $8.27 |
| Net Operating Income | |
|---|---|
| Annual | $263,227 |
| Annual Per SF | $12.53 |
Property Facts
| Price | $3,300,000 | Building Class | B |
| Price Per Unit | $173,684 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 21,000 SF |
| Cap Rate | 7.97% | Average Occupancy | 90% |
| No. Units | 19 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1931/1990 |
| Property Subtype | Apartment | Parking Ratio | 0.29/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | R7A - R7A,C2-4 | ||
| Price | $3,300,000 |
| Price Per Unit | $173,684 |
| Sale Type | Investment |
| Cap Rate | 7.97% |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.14 AC |
| Building Size | 21,000 SF |
| Average Occupancy | 90% |
| No. Stories | 4 |
| Year Built/Renovated | 1931/1990 |
| Parking Ratio | 0.29/1,000 SF |
| Zoning | R7A - R7A,C2-4 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | $2,133 | - |
| 3+1 | 3 | $2,585 | - |
| 1+1 | 4 | $1,138 | - |
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Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 05097-0091 | Total Assessment | $580,050 (2026) |
| Land Assessment | $146,700 (2026) | Annual Taxes | $72,152 ($3.44/SF) |
| Improvements Assessment | $433,350 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
05097-0091
Land Assessment
$146,700 (2026)
Improvements Assessment
$433,350 (2026)
Total Assessment
$580,050 (2026)
Annual Taxes
$72,152 ($3.44/SF)
Tax Year
2025
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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expired J-51! FREE MARKET BUILDING | Prospect Park South POST J51 DEAL !!!
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