1647 8th Ave 6 Unit Block of Flats £3,765,131 (£627,522/Unit) 4.72% Net Initial Yield Brooklyn, NY 11215
INVESTMENT HIGHLIGHTS
- Prime Prime Location in heart of Park Slope, around the corner from Prospect Park & Subways
- GUT RENOVATED BUILDING WITH SHARED TENANTS LOUNGE & YARD
- 100% FREE MARKET UNITS all INDIVIDUALLY METERED
EXECUTIVE SUMMARY
4.7% CAP rate on in ace rents, and 5.5% CAP Rate on Pro-Forma rents by year 2
Prime Park Slope around the corner from Prosepct Park and the 15th st stop on the F/G Subway lines
Protected Tax class as well as very low operating expenses especially with tenants paying their own utilities
Prime Free Market with 100% RENT COLLECTIONS
Prime Park Slope around the corner from Prosepct Park and the 15th st stop on the F/G Subway lines
Protected Tax class as well as very low operating expenses especially with tenants paying their own utilities
Prime Free Market with 100% RENT COLLECTIONS
FINANCIAL SUMMARY (ACTUAL - 2022) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | £3,765,131 |
| Price Per Unit | £627,522 |
| Sale Type | Investment |
| Net Initial Yield | 4.72% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 18.5 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 4,920 SF |
| Average Occupancy | 100% |
| Number of Floors | 3 |
| Year Built/Renovated | 1923/2018 |
| Zoning | R5B - Medium density district with a height limit of 40 feet |
AMENITIES
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Storage Space
- Lounge
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 5 | £2,940 | 600 - 700 |
| 1+1 | 1 | £2,450 | 450 - 550 |
1 of 1
Walk Score®
Walker's Paradise (97)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 01113-0005 | Total Assessment | £453,512 (2024) |
| Land Assessment | £6,784 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £446,728 (2024) | Tax Year | 2022 |
