457 Park Pl
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457 Park Pl
10 Unit Block of Flats £2,643,150 (£264,315/Unit) 6.60% Net Initial Yield Brooklyn, NY 11238
Investment Highlights
- Renovated
- 4 FM | 6 RS
- 10 Units
Executive Summary
The New York Multifamily team is pleased to offer 457 Park Place, a 10-unit Multifamily Property at Prospect Heights neighborhood for $3,350,000. The building is in great shape and shows very well. There are 4 Free Market units and 6 Rent Stabilized. 2 of the RS units have set "first rents" at market prices.
• Fully finished and dry basement - potential duplex of ground floor apartments, storage/bike area,
or common area lounge for tenants (no access yet provided)
• 1L and 2L are large 3 bedroom units with under-market rents
• Remaining RS units provide a large cushion for future potential when laws change
• All hallways, stairwells, entryway system updated. MEP in excellent condition.
• Fully finished and dry basement - potential duplex of ground floor apartments, storage/bike area,
or common area lounge for tenants (no access yet provided)
• 1L and 2L are large 3 bedroom units with under-market rents
• Remaining RS units provide a large cushion for future potential when laws change
• All hallways, stairwells, entryway system updated. MEP in excellent condition.
Financial Summary (Actual - 2023) 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
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £2,643,150 | Property Subtype | Apartment |
| Price Per Unit | £264,315 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Net Initial Yield | 6.60% | Lot Size | 0.09 AC |
| Gross Rent Multiplier | 11.4 | Building Size | 8,360 SF |
| No. Units | 10 | Number of Floors | 4 |
| Property Type | Residential | Year Built | 1907 |
| Price | £2,643,150 |
| Price Per Unit | £264,315 |
| Sale Type | Investment |
| Net Initial Yield | 6.60% |
| Gross Rent Multiplier | 11.4 |
| No. Units | 10 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 8,360 SF |
| Number of Floors | 4 |
| Year Built | 1907 |
Unit Amenities
- Kitchen
- Wooden Floors
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 3+1 | 6 | - | - |
| 1+1 | 2 | - | - |
| Studios | 2 | - | - |
1 of 1
Walk Score ®
Walker's Paradise (96)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 01162-0086 | Total Assessment | £862,416 (2024) |
| Land Assessment | £7,811 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £854,605 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
01162-0086
Land Assessment
£7,811 (2024)
Improvements Assessment
£854,605 (2024)
Total Assessment
£862,416 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
zoning
| Zoning Code | R6A (Multi-Family Walk-up Buildings) |
| R6A (Multi-Family Walk-up Buildings) |
-
Power Broker Shaun Riney -
Andrew Bronsteen -
Marcus & Millichap
1 of 32
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457 Park Pl
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