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321 E 2nd Street, Brooklyn, NY 11218 321 2nd st

6 Unit Block of Flats £1,980,198 (£330,033/Unit) 6% Net Initial Yield Brooklyn, NY 11218

Executive Summary

Handsome, diversified, fully-occupied, cash-flowing, mixed use building for sale on a bustling corner of Kensington, Brooklyn. Anchor tenant is a national chain that has been renting for almost 20 years and pays a substantial portion of utilities.
321 E 2nd St (aka 329 E. 2nd St) contains 6 rent-stabilized residential units (all 2BR/1BA) and 4 commercial units across 7,560 square feet of space. Located one block from the Church Ave F/G, its reliable long-standing tenants enjoy access to countless retailers and amenities along Church Ave.
There is room for growth on the commercial rents, especially with cosmetic improvements, affording a projected cap rate of 6% at asking price.
Asking price $2,500,000 ($250,000 per unit). Seller is open to reasonable offers.

Property Facts Under Contract

Price £1,980,198
Price Per Unit £330,033
Sale Type Investment
Net Initial Yield 6%
Sale Conditions 1031 Exchange
No. Units 6
Property Type Residential
Property Subtype Apartment
Apartment Style Mid Rise
Building Class C
Lot Size 0.05 AC
Building Size 7,560 SF
Number of Floors 4
Year Built 1937

Unit Amenities

  • Air Conditioning
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Tub/Shower
  • Freezer

Site Amenities

  • 24 Hour Access
  • Controlled Access
  • Smoke Free
  • Public Transportation
  • Smoke Detector

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
2+1 6 - -
Walk Score ®
Walker's Paradise (95)
Transit Score ®
Rider's Paradise (97)
Bike Score ®
Very Bikeable (87)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
05335-0042
Land Assessment
£8,198
Improvements Assessment
£319,865
Total Assessment
£328,063

zoning

Zoning Code R5 (R5 - Medium density district with a height limit of 40 feet)
R5 (R5 - Medium density district with a height limit of 40 feet)
  • Listing ID: 33304015

  • Date on Market: 25/09/2024

  • Last Updated:

  • Address: 321 2nd st, Brooklyn, NY 11218

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