1487 Broadway
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1487 Broadway
20 Unit Block of Flats £6,715,085 (£335,754/Unit) 6.48% Net Initial Yield Brooklyn, NY 11221
Investment Highlights
- 2017 Construction Corner Mixed Use Building
- One Block to "J" "Z" Subway Lines into Manhattan
- 17 RS | 3 Retail
Executive Summary
1487 Broadway is a modern mixed-use property situated in the dynamic Bushwick neighborhood of Brooklyn. Built in 2016, this four-story walk-up spans 15,753 square feet and includes 17 residential units and 3 retail spaces. The property generates a gross Effective Gross Income (EGI) of $715,154, with $591,864 from residential rents and $145,409 from retail tenants, adjusted for a 3% vacancy/collection loss. The residential unit mix features a variety of layouts, including spacious one-bedroom, two-bedroom, three-bedroom, and four-bedroom configurations, as well as penthouses with private terraces. The retail units contribute $12,117.41 in monthly income. With annual expenses of $164,302, the property achieves a net operating income (NOI) of $550,852 and a solid 6.48% cap rate. Priced at $8,500,000, 1487 Broadway offers investors a stable income-producing asset in one of Brooklyn’s most sought-after neighborhoods.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
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-
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| Other Income |
-
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-
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| Vacancy Loss |
-
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-
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| Effective Gross Income |
-
|
-
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| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £6,715,085 | Building Class | B |
| Price Per Unit | £335,754 | Lot Size | 0.09 AC |
| Sale Type | Investment | Building Size | 15,753 SF |
| Net Initial Yield | 6.48% | Average Occupancy | 100% |
| No. Units | 20 | Number of Floors | 6 |
| Property Type | Residential | Year Built/Renovated | 1915/2016 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid Rise |
| Price | £6,715,085 |
| Price Per Unit | £335,754 |
| Sale Type | Investment |
| Net Initial Yield | 6.48% |
| No. Units | 20 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Lot Size | 0.09 AC |
| Building Size | 15,753 SF |
| Average Occupancy | 100% |
| Number of Floors | 6 |
| Year Built/Renovated | 1915/2016 |
| Opportunity Zone |
Yes |
Unit Amenities
- Balcony
- Kitchen
- Wooden Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Roof Terrace
- Bicycle Storage
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Walk Score ®
Walker's Paradise (95)
Transit Score ®
Rider's Paradise (98)
Bike Score ®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 03380-0009 | Improvements Assessment | £1,168,543 (2024) |
| Land Assessment | £71,456 (2024) | Total Assessment | £1,240,000 (2024) |
PROPERTY TAXES
Parcel Number
03380-0009
Land Assessment
£71,456 (2024)
Improvements Assessment
£1,168,543 (2024)
Total Assessment
£1,240,000 (2024)
zoning
| Zoning Code | R6, C1-3 |
| R6, C1-3 |
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1487 Broadway
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