$1,900,000
Berriman Street Portfolio
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 15,000
Units 18
Cap Rate 9.98%
NOI $189,600
Occupancy 88.9%
Tenancy Multi
Class C
Buildings 2
Stories 3
Investment Type Value Add
Multifamily | 18 Units | $105,556/unit
Marketing description
A stabilized, all-brick multifamily portfolio offering an out-of-the-box ~10% cap rate, in-place cash flow from 16 of 18 units, and immediate lease-up upside on two vacant units.
Investment highlights
- ~10% Cap Rate at Asking - $189,600 NOI on $1.9M price — rare yield for a stabilized brick multifamily portfolio.
- Two Buildings, Sold Together - 9 units at 446 Berriman + 9 units at 463 Berriman. Operational efficiency from co-located ownership.
- In-Place Cash Flow Day One - 16 of 18 units occupied with rent-paying tenants. Existing rent roll annualizes to ~$354K.
- Lease-Up Upside - Two vacant units at 463 Berriman currently underwritten at prior tenant rents — immediate revenue capture upon turnover.
- Durable Brick Construction - Solid pre-war masonry buildings with low long-term capital exposure.
- Healthy Expense Ratio - Operating expenses at ~46.7% of GPR — in line with stabilized NYC multifamily.
Listing Contacts
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$189,600.00
$15,800.00/mo
Valuation Metrics
0
DSCR
9.98%
Cap Rate
9.98%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
