UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1016375
Rental Info No
Year Built 1910
Annual Tax Amount $11,308
Lot Size 2,631 Sqft
Acres 0.0604
Property Sub-Type Multi Family
Source onekey2
Property Description
The building generates strong and stable rental income with an estimated annual gross income of approximately $138,609 and an estimated NOI of $101,235. At the asking price of $1,750,000, the property offers an attractive estimated 5.8% cap rate, making it an exceptional addition to any investment portfolio.
Situated on a prime residential block, the property is conveniently located near public transportation, schools, shopping, restaurants, parks, and major thoroughfares. The neighborhood continues to experience strong rental demand, contributing to the property's long-term investment appeal.
Property Features:
8-Family Brick Building,
Eight Large 3-Bedroom Apartments,
Excellent Building Condition,
Strong Income-Producing Asset,
Approximate Annual Gross Income: $138,609.
Estimated NOI: $101,235
Approximate 5.8% Cap Rate
Desirable Brooklyn Location
Close to Subway, Bus Lines, Shopping, Dining, and Schools
Ideal for Investors Seeking Stable Cash Flow
A rare opportunity to acquire a turnkey multifamily property with strong financials, excellent occupancy history, and a highly sought-after location in Brooklyn. Whether expanding an existing portfolio or completing a 1031 exchange, this property offers immediate income and long-term value.
Location
State NY
County Kings (brooklyn)
Rooms
Basement Partially Finished
Interior
Heating Natural Gas
Cooling Electric
Fireplace No
Exterior
Parking Features On Street
Utilities Available Electricity Connected, Natural Gas Connected
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
High Schools Contact Agent
School District Contact Agent
Others
Special Listing Condition None
The mission of the ASA Real Estate Group is to provide a lifelong, positive impact on our clients, our communities, our team, as well as the other realtors with which we work. We specialize in assisting Buyers and Sellers transact. With our extensive knowledge of the market we help our clients get the best possible price for their home through proactive marketing approach. We guide sellers and buyers through every step of the process and keep them updated their transaction.