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
LEAD LISTING AGENT
DJ Johnston
Executive Vice President
Email
[email protected]
License No.
10401225168 (NY)
Direct
+1 (718) 701-5367
Mobile
+1 (914) 584-7422
ADDITIONAL LISTING AGENT
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