55 Stanhope Street
Multifamily | 8 Units | $525,000/unit
Marketing description
Investment Property Realty Group (IPRG) has been exclusively retained to sell 55 Stanhope Street. The subject property is located between Evergreen Avenue and Central Avenue in the Bushwick neighborhood of Brooklyn.
Built in 2016 as a protected 2B tax class new building, the property offers 8 free market apartments that are not subject to Good Cause Eviction. Each unit has separate utilities including heat/hot water and wall mounted AC units. The basement contains laundry machines for use by tenants. This investment provides strong, consistent cash flow with the opportunity to increase under market rents for long term appreciation.
The property is located within walking distance to the J, Z, M and L subway lines for easy access to Manhattan. There is also an abundance of strong retail along Knickerbocker Avenue, Myrtle Avenue and Broadway.
Investment highlights
- Block & Lot 03254-0071
- Neighborhood Bushwick
- Cross Streets Evergreen Avenue
- Building Dimensions 25 ft × 56 ft
- Lot Dimensions 25 ft × 100 ft
- Number of Units 8 Apartments
- Approx. Total Building SF 6,103 sq ft
- Approx. Lot SF 2,500 sq ft
- Zoning R6
- FAR 2.2
- Tax Class 2B
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