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28206849
28206858

255 Saint Nicholas Avenue, New York, NY 11237

MW
NY 10401201617
Daniel Gale Sotheby's International
Daniel Gale Sothebys Intl Rlty
Listed by Daniel Gale Sotheby's International, Daniel Gale Sothebys Intl Rlty
$1,199,000
208 days on market
Updated 9 days ago

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
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Listing Contacts

MW
NY 10401201617
Daniel Gale Sotheby's International
Daniel Gale Sothebys Intl Rlty
Listed by Daniel Gale Sotheby's International, Daniel Gale Sothebys Intl Rlty

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Loan Amount
$0.00
Annual Debt Service
$--
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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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Additional Information

Name
Matthew Weissman
License
10401201617
Brokerage
Sotheby's Realty
Brokerage Phone
9178045387
Title
Salesperson
Brokerage Address
263 Main Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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