321 E 2nd Street, Brooklyn, NY 11218 | 321 2nd st
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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.
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 | Property Subtype | Apartment |
| Price Per Unit | £330,033 | Apartment Style | Mid Rise |
| Sale Type | Investment | Building Class | C |
| Net Initial Yield | 6% | Lot Size | 0.05 AC |
| Sale Conditions | 1031 Exchange | Building Size | 7,560 SF |
| No. Units | 6 | Number of Floors | 4 |
| Property Type | Residential | Year Built | 1937 |
| 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 | - | - |
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Walk Score ®
Walker's Paradise (95)
Transit Score ®
Rider's Paradise (97)
Bike Score ®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | 05335-0042 | Improvements Assessment | £319,865 |
| Land Assessment | £8,198 | Total Assessment | £328,063 |
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) |
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321 E 2nd Street, Brooklyn, NY 11218 | 321 2nd st
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