Cap Rate
6.15%
Price Per Unit
$416,667
Units
6
Gross SQFT
4,350
Year Built
1931
Property Type
Apartments
INVESTMENT HIGHLIGHTS
- Well-Located: In the heart of Bushwick, one of NYC’s most dynamic and sought after neighborhoods, steps to Maria Hernandez Park and close proximity to E. Williamsburg
- Neighborhood Amenities: Within blocks of endless restaurants, galleries, and shopping establishments: Robertas Pizza, House of Yes, Bushwick Collective, Molasses Books, etc
- Transportation Accessibility: Close proximity to the Jefferson Street L-train and Central Ave M-train, providing access to Williamsburg and Manhattan within 25 minutes
- Nearly All Free-Market: Five of the six units are free-market and collecting $3,300/mo. ($57/SF) on average
- Owner-User Opportunity: The building and neighborhood lend well to a hybrid owner/user/investor, living in one or more of the units and renting out the rest
- Protected Tax Class: 2A Tax Class limits tax increase to no more than 8% a year or 30% over 5 years
- Low Maintenance: Building has been renovated and meticulously maintained, with no need for short-term capital improvements
Broker of Record
- Cory Rosenthal
- License No. 10311210106 (NY)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 1600 West End,
Ste. 1500 Nashville, TN 37203