518 E 51st St | Brooklyn, NY 11203
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- LoopNet Team
518 E 51st St
Brooklyn, NY 11203
518 E 51ST ST · Multifamily Property For Sale
·
6 Units
INVESTMENT HIGHLIGHTS
- Excellent Light & Air: Side and rear air shafts provide units with substantial light and air, allowing for efficient unit layouts.
- Great Retail Nearby: Close proximity to the Utica Avenue and Church Avenue retail corridors.
- Return / Basis: Opportunity for an investor to pick up a cash flowing asset at a low basis for over a 7.25% cap rate.
- Protected Tax Class: 2A Tax Class limits tax increase to no more than 8% a year or 30% over 5 years.
- Parking / Curb Cut: Driveway allows for two parking spots, offering the potential for additional revenue.
PROPERTY FACTS
| No. Units | 6 | Building Size | 5,712 SF |
| Property Type | Multifamily | Average Occupancy | 83% |
| Property Subtype | Apartment | No. Stories | 3 |
| Building Class | B | Year Built | 1920 |
| Lot Size | 0.07 AC | ||
| Zoning | R5 | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.07 AC |
| Building Size | 5,712 SF |
| Average Occupancy | 83% |
| No. Stories | 3 |
| Year Built | 1920 |
| Zoning | R5 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | 450 |
PROPERTY TAXES
| Parcel Number | 04722-0027 | Improvements Assessment | $280,800 |
| Land Assessment | $4,500 | Total Assessment | $285,300 |
PROPERTY TAXES
Parcel Number
04722-0027
Land Assessment
$4,500
Improvements Assessment
$280,800
Total Assessment
$285,300
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