Listed by Matthews
$1,100,000
279 Tompkins Avenue
Details
APN 3050451
Property Type Multifamily, Retail
Sub Type Apartment Building, Convenience Store
Square Footage 6,500
Units 7
NOI $66,949
Occupancy 100%
Tenancy Multi
Price per SqFt $169
Buildings 1
Stories 4
Lot Size (SqFt) 1,875
Zoning R6
Investment Type Value Add
Ground Lease No
Ownership Fee Simple
Corner Mixed-Use | Low Basis $169 / SF
Investment highlights
- Historically Low Basis: Asking price equates to just $157K per unit or $169 per SF
- Excellent Light and Air: Corner exposure allows for 40+ windows, providing light and air for efficient apartment layouts
- Six Residential Units: Apartments are fully occupied with rent stabilized tenants
- One Retail Unit: The corner retail space is occupied by a successful deli/bodega with 7 years remaining on their lease
- Transportation Accessibility: Myrtle-Willougbhy G train and Myrtle Avenue J, M, Z trains are nearby, as are multiple bus lines (B43, B54, B39, B46, B38)
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$66,949.00
$5,579.08/mo
Valuation Metrics
0
DSCR
6.09%
Cap Rate
6.09%
ROI
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