Revolution Real Estate
Listed by Revolution Real Estate
$4,499,000
685 Sterling Place
Details
APN 3-01238-0060
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 17,276
Units 20
Cap Rate 6.00%
NOI $273,242
Year Built 1906
Buildings 1
Acreage 0.140
Zoning R6-B
Multifamily | 6.00% CAP | 20 Units
Marketing description
Rare opportunity to acquire a 20-unit brick apartment building located on the border of Crown Heights and Prospect Heights, two of Brooklyn's most sought-after neighborhoods. This 4-story walk-up consists of 6 four-bedroom units, 8 three-bedroom units, 2 one-bedroom units, and 4 studio apartments. The current rent roll includes 12 rent-stabilized units, 1 rent-controlled/contract unit, and 7 free-market units, offering a blend of stable cash flow and future upside. The property is self-managed and features large apartment layouts that remain in high demand. Conveniently located near public transportation, shopping, restaurants, Prospect Park, and the Brooklyn Museum. An exceptional opportunity to own a well-positioned multifamily asset in one of Brooklyn's strongest rental markets.
Listing Contacts
Revolution Real Estate
Listed by Revolution Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$273,242.00
$22,770.17/mo
Valuation Metrics
0
DSCR
6.07%
Cap Rate
6.07%
ROI
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