247 HIMROD ST, BROOKLYN NY
Multifamily | 6 Units | 4FM + 2RS | 6.53%CAP
Marketing description
Just off the iconic Jefferson Ave L train— arguably NYC’s epicenter or hipster cool, 247 Himrod is a fully-occupied and cash-flowing, newly renovated 6 family with four free market units and two rent-stabilized units.
The property produces solid income on an as-is basis, and benefits from having been recently renovated including new mechanicals such as the boiler. Market appropriate turn-key cap rate, with some upside in the free market units, and a stable coupon from the 2 RS units.
Investment highlights
Turnkey: Fully occupied and cash-flowing access with immediate return
Value-Add: Light value-add through mark to market renewals
Rent Growth: One of the few locations left in NYC with rent growth projected
Air Rights: 1,000 sf of FAR left as is.
Good Paperwork: Clean DHCR
Pro Management: well maintained, clean paperwork, no violations, new boiler
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