Price Per SF
$263
Price Per Unit
$250,000
Units
6
Gross SQFT
5,712
Year Built
1920
Property Type
Apartments
INVESTMENT HIGHLIGHTS
- Excellent Light & Air: Side and rear air shafts provide units with substantial light and air, allowing for efficient unit layouts.
- Protected Tax Class: 2A Tax Class limits tax increase to no more than 8% a year or 30% over 5 years.
- Great Retail Nearby: Close proximity to the Utica Avenue and Church Avenue retail corridors.
- Parking / Curb Cut: Driveway allows for two parking spots, offering the potential for additional revenue.
- Return / Basis: Opportunity for an investor to pick up a cash flowing asset at a low basis for over a 7.25% cap rate.
- Public Transportation: Located within a few blocks of the B46 and B35 bus lines, with direct access to Williamsburg, Downtown Brooklyn, the Rockaways, and Jamaica, Queens.
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