Listed by Matthews
$2,400,000
792 Hart Street
Details
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 4,875
Units 6
Cap Rate 7.00%
Class A
Acreage 0.057
Best Block in Bushwick - 7%+ Cap Rate - 80% Free Market
Investment highlights
Minimal Rent Regulation: Five of the six units are free market and renovated.
Cashflow + Upside: Currently grossing $210K / year, with natural upside as Bushwick continues to appreciate.
Highly Efficient: Each renovated unit is responsible for their own utilities.
Owner-User Opportunity: The building and neighborhood lend well to a hybrid owner/user/investor living in one or more of the units and renting out the rest.
Transportation Accessibility: The L and M train lines are within 3-5 blocks away, offering access to Williamsburg and Union Square within 25 minutes.
Protected Tax Class: 2B tax class limits tax increases to no more than 8% a year or 30% over 5 years.
Listing Contacts
Listed by Matthews
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