262 Withers Street | 262 Withers St
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262 Withers Street 262 Withers St
6 Unit Block of Flats £1,937,717 (£322,953/Unit) 5.60% Net Initial Yield Brooklyn, NY 11211
INVESTMENT HIGHLIGHTS
- 25’ x 75’ Brick 6 Family in Williamsburg | 5,625 SF Above Grade | Usable/Finished Basement
- 3 of the 4 Free Market Units delivered Vacant by Closing
- Meticulously maintained building with very minor cap ex needed
- 4 out of 6 Units are Free Market | 1 RC | 1 RS | Very Good Paperwork In-Place
- All 4 Free Market Units already have been renovated with kitchens and bathrooms in the middle
- Massive Upside in Free Market Rents
EXECUTIVE SUMMARY
• The New York Multifamily team is pleased to offer 262 Withers Street, a 6-unit Multifamily Property at East Williamsburg neighborhood for $2,495,000.00.
• 25’ x 75’ Brick 6 Family in Williamsburg | 5,625 SF Above Grade | Usable/Finished Basement
• 4 out of 6 Units are Free Market | 1 RC | 1 RS | Very Good Paperwork In-Place
• 3 of the 4 Free Market Units delivered Vacant by Closing
• All 4 Free Market Units already have been renovated with kitchens and bathrooms in the middle
• Meticulously maintained building with very minor cap ex needed
• Massive Upside in Free Market Rents
• Path to build into above a 5.6% cap rate (at asking price) with just re-leasing vacant FM Units at market
• 4 Blocks from L-Train at Graham Avenue
• 25’ x 75’ Brick 6 Family in Williamsburg | 5,625 SF Above Grade | Usable/Finished Basement
• 4 out of 6 Units are Free Market | 1 RC | 1 RS | Very Good Paperwork In-Place
• 3 of the 4 Free Market Units delivered Vacant by Closing
• All 4 Free Market Units already have been renovated with kitchens and bathrooms in the middle
• Meticulously maintained building with very minor cap ex needed
• Massive Upside in Free Market Rents
• Path to build into above a 5.6% cap rate (at asking price) with just re-leasing vacant FM Units at market
• 4 Blocks from L-Train at Graham Avenue
PROPERTY FACTS
| Price | £1,937,717 | Property Subtype | Apartment |
| Price Per Unit | £322,953 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Net Initial Yield | 5.60% | Lot Size | 0.06 AC |
| Gross Rent Multiplier | 12.8 | Building Size | 5,625 SF |
| No. Units | 6 | Number of Floors | 3 |
| Property Type | Multifamily | Year Built | 1920 |
| Price | £1,937,717 |
| Price Per Unit | £322,953 |
| Sale Type | Investment |
| Net Initial Yield | 5.60% |
| Gross Rent Multiplier | 12.8 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,625 SF |
| Number of Floors | 3 |
| Year Built | 1920 |
UNIT AMENITIES
- Air Conditioning
- Storage Space
- Heating
- Kitchen
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
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Walk Score®
Very Walkable (85)
Transit Score®
Excellent Transit (88)
Bike Score®
Very Bikeable (85)
PROPERTY TAXES
| Parcel Number | 02875-0049 | Improvements Assessment | £504,940 |
| Land Assessment | £6,291 | Total Assessment | £511,231 |
PROPERTY TAXES
Parcel Number
02875-0049
Land Assessment
£6,291
Improvements Assessment
£504,940
Total Assessment
£511,231
ZONING
| Zoning Code | R6B (R6 - Medium density residential district) |
| R6B (R6 - Medium density residential district) |
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262 Withers Street | 262 Withers St
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