295 Wyckoff Avenue
Mixed-Use in Prime Bushwick | 6.9% Cap Rate with Upside
Marketing description
295 Wyckoff Avenue presents a rare opportunity to acquire a well-positioned mixed-use asset in the heart of Bushwick, one of Brooklyn’s most dynamic and rapidly evolving neighborhoods. The property consists of five total units, including four residential apartments and one commercial space, offering a balanced income stream with both stability and upside.
The residential apartments are comprised entirely of free-market two-bedroom units, featuring strong in-place rents with additional growth potential through turnover and light upgrades - offering immediate value-add opportunity for an investor.
Spanning approximately 4,650 square feet, the property operates with an efficient expense ratio and tenant-paid utilities for heat, contributing to strong cash flow. Investors benefit from a solid in-place return with a current cap rate approaching 7% and upside to over 7.4% on a pro forma basis.
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 offers approximately 1,425 square feet of unused air rights, presenting future development or expansion potential in a favorable R6, C1-3 zoning district.
Investment highlights
- Mixed-Use Building Spanning 4,650 SF Above Grade
- 4 Apartments over Vented Restaurant Space with Backyard - Taqueria | Legal CO from 1935
- Four Flex/Office 3-Bedroom Apartments with 1 Bath | Condo Quality Finishes Throughout
- Separate Utilities for Retail and Residential Tenants | Split Heating and Cooling
- Tax Class 2A - $22,293 Annual Tax Bill
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