146 LINDEN BLVD

146 LINDEN BLVD, BROOKLYN, NY 11226
$6,500,000

Cap Rate
6.07%
Price Per SF
$430
Units
18
Gross SQFT
15,112
Year Built
2017
Occupancy
100%
NOI
$395,988
Property Type
Apartments

INVESTMENT HIGHLIGHTS

  • Desirable Location: Located on Linden Boulevard between Bedford & Rogers Avenues, on the border of Prospect Lefferts Garden and Flatbush, Brooklyn
  • High-End Finishes: Units are outfitted with stainless steel appliances, central A/C, stone countertops, private balconies and large open living spaces.
  • Building Amenities: Common areas include laundry in-building, a game room, roof access, and parking
  • Low-Maintenance: Building was constructed in 2017 and is fully occupied, translating to minimal up-front management required
  • Tax Abatement: Property benefits from a 421a tax abatement (in year 3 of 35), with a current annual tax bill of just $3,993
  • Path to Fully Free-Market: Units are rent stabilized under the 421a tax abatement – these can be destabilized upon tenant turnover after abatement expiration
  • Public Transportation: Within blocks of the 2 & 5 trains at Church Avenue and the Q train at Parkside Avenue with direct access to Downtown Brooklyn & Union Square
  • Retail Accessibility: Close proximity to numerous retail options along Church and Flatbush Avenues, including Target, Key Foods, CityMD, Chase, CVS, etc.

Broker of Record

  • Cory Rosenthal
  • License No. 10991237833 (NY)
  • (866) 889-0550
  • Matthews Real Estate Investment Services, Inc
  • 1600 West End,
    Ste. 1500 Nashville, TN 37203