Listed by Evergreen Realty and Investments
$23,500,000
467 Keap Street • Ainslie Tower
Details
Property Type Mixed Use, Multifamily
Sub Type Apartment Building
Square Footage 77,664
Units 30
Cap Rate 7.06%
Occupancy 100%
Price per SqFt $303
Year Built 2009
Stories 10
Lot Size (SqFt) 16,951
Zoning M1-2/R6, MX-8
100% OCCUPIED•25-YEAR 421A TAX ABATEMENT•PRIME WILLIAMSBURG
Marketing description
Ten-story mixed-use elevator building built in 2009
29 residential lofts with 20' ceilings — all fully occupied (6 affordable units)8,300 SF commercial unit with elevator — half recently leased for $14,000/month to a high end gym
3 levels of parking with 60 spots generating monthly income
Potential to add 6,985 SF of parking on the second-floor roof
Includes cellar storage and a loading dock
421a tax exemption in place until July 2038
Building measures 77,664 SF on a 96.08' x 183.33' lotCurrent gross annual income: $2,158,235.
Current net annual income: ~$1,863,163.
Legal residential rent roll: $1,401,975/year
Projected total gross income with full commercial lease: ~$2,352,375.
Actual cap rate: 7.76%
Listing Contacts
Listed by Evergreen Realty and Investments
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