Listed by Ariel Property Advisors
$4,700,000
Crown Heights North
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 17,420
Units 17
Cap Rate 5.74%
Pro-Forma Cap Rate 6.48%
Price per SqFt $270
Buildings 17,420
Stories 4
Lot Size (SqFt) 5,750
Zoning R6
Multifamily | 17 Units | $276,471/unit
Marketing description
Crown Heights North Mostly Free Market Multifamily Building
Investment highlights
- The Property is Located on the North Side of Sterling Place, a Beautiful Landmark Block Between Brooklyn & Kingston Avenues
- The Building Has Gone Through Extensive Repairs and Upgrades Consisting of the Installation of a New Boiler, Surveillance Camera System and Intercom System With Key Fob Access as Well as an Oil to Gas Conversion
- Convenient Transportation Options as the Property is Located a Couple of Blocks From the 3, a, & C Trains, and the B43 Bus Stop is Just Around the Corner
- Strong Cash Flow and Performance From Healthy Occupancy With Room for Growth
- An Opportunity to Acquire a 50 Foot Wide, Four Story Walk Up, 17 Unit Building With 9 Modernized Free Market Units
- The Unit Mix Consists of Ten 3 (Three) Bedroom Units & Seven 2 (Two) Bedroom Units (Three of the Units Are Duplexed With Over 1000 Sf of Backyard Space)
- Short Walk to Trendy Restaurants, Cafes, Bars, Art Galleries, Boutique Shops, Museums, Brower Park & More
Listing Contacts
Listed by Ariel Property Advisors
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