291 Wyckoff Avenue
Mixed Use | 7.70% CAP | 4,350 SqFt
Marketing description
291 Wyckoff Avenue offers investors the opportunity to acquire a fully occupied, income-producing multifamily property in the heart of Bushwick - one of Brooklyn’s most active and sought-after rental markets. The building boasts two high-end ground floor duplexes with private backyards, delivering a reliable revenue stream with upside potential.
Spanning approximately 4,350 square feet with an asking price equivalent of $217/SF, this offering is well below replacement costs and is currently achieving a 7.7% cap rate, with the ability to stabilize at an 8.8% pro forma cap rate.
Located in an established retail corridor just moments from the Myrtle-Wyckoff transit hub, the asset is ideally situated near multiple subway lines and neighborhood amenities - making it highly attractive to both residential and commercial tenants. Additionally, the property includes approximately 1,363 square feet of unused air rights, offering future development or expansion potential within an R6, C1-3 zoning district.
Investment highlights
- 6-Unit Multifamily Building Spanning 4,350 SF Above Grade
- Prime Bushwick Location | L and M Train Access at Myrtle-Wyckoff Transit Hub
- Two High-End Duplexed Apartments | Extensive Paperwork Backup Available
- Tax Class 2A - $15,420 Annual Tax Bill
- Asking: $945,000 | 7.7% Cap Rate | $217/SF
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