Listed by Daniel Gale Sotheby's International, Daniel Gale Sothebys Intl Rlty
$1,199,000
255 Saint Nicholas Avenue
Details
APN 03312-0003
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 7,280
Units 8
Cap Rate 5.69%
NOI $68,172
Occupancy 100%
Pro-Forma Cap Rate 9.53%
Pro-Forma NOI $114,300
Price per SqFt $165
Year Built 1931
Buildings 1
Acreage 0.055
Investment Type Stabilized
Multifamily | 8 Units | $149,875/unit
Marketing description
Fully occupied and cash-flowing, this exceptionally well-maintained eight-unit multi-family building is ideally situated in the heart of Bushwick, Brooklyn. Built in 1931, this classic brick building offers timeless curb appeal and solid construction, spanning approximately 7,280 square feet on a 27-foot by 70-foot lot. Each residence features a spacious railroad-style layout of over 900 square feet, with a mix of 1-, 2-, and 3-bedroom, 1-bath apartments. Two units have been recently renovated, offering a seamless blend of historic character and modern upgrades. The property is fully occupied with steady rental income from rent-stabilized tenants, making it an excellent opportunity for investors seeking long-term stability, strong cash flow, and future upside potential. Conveniently located just four blocks from the L and M subway lines, residents enjoy easy access to Manhattan in under 20 minutes. Zoned R6, the building sits on St. Nicholas Avenue, surrounded by Bushwick’s vibrant mix of cafes, art studios, restaurants, and nightlife, ensuring consistent tenant demand and rental growth
Listing Contacts
Listed by Daniel Gale Sotheby's International, Daniel Gale Sothebys Intl Rlty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$68,172.00
$5,681.00/mo
Valuation Metrics
0
DSCR
5.69%
Cap Rate
5.69%
ROI
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