Cap Rate
6.17%
Units
5
Gross SQFT
2,858
NOI
$120,279
Property Type
Apartments
INVESTMENT HIGHLIGHTS
- Fully Free-Market: The property is fully free market, allowing future ownership to capitalize on neighborhood improvement.
- Available Air Rights: There are roughly 1,150 SF of unused air rights for future expansion, development, or disposition.
- Protected Tax Class: 2A Tax Class limits tax increase to no more than 8% a year or 30% over 5 years.
- Transportation Accessibility: Within 6-8 blocks from J, M, Z trains at Myrtle Ave and Kosciuszko Street, as well as G train at Bedford/Nostrand stop.
- Highly Efficient: Manageably sized units attract student and professionals alike, while keeping operating costs low.
- Low Maintenance: Building has been fully renovated and maintained, with no need for short term capital improvements.
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