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475 E Eighth St
Brooklyn, NY 11218

Residential Property For Sale · 12 Units

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Executive Summary

Introducing 475 E 8th St an incredible investment opportunity for the right buyer. 475 E 8th is a huge 17,318sqFt twelve family + 1 commercial built in 2007 & fully renovated in 2018. All units feature white oak floors, large kitchens with stainless steel appliances with ceaserstone countertops and cherry cabinetry. Marble bathrooms with Kohler fixtures and deep soaking tubs. Just a few short blocks to the best Ditmas Park has to offer. 475 E 8th also has a new elevator & top of the line turn key equipment through out the building!
475 E 8th is 35×50 on a 40×100 lot. There are 10 two bedroom apartments and 2 one bedroom apartments plus one 500sqFt commercial unit in the bldg. Additionally the building has six parking spots beneath the complex with 12 paid storage lockers for all tenants. The current rent roll is 396,000 monthly + 1,860 monthly for the parking & storage. There is a 15 year tax abatement on the property currently & expenses are very low. The current NOI is 335,000 with a projected 2023 NOI of 358,000.

PROPERTY FACTS

Price Per Unit	£522,200	Apartment Style	Mid Rise
Sale Type	Investment	Building Class	B
Net Initial Yield	4.50%	Lot Size	0.09 AC
Sale Conditions	1031 Exchange Design & Build	Building Size	17,318 SF
No. Units	12	Number of Floors	7
Property Type	Residential	Year Built	2007
Property Subtype	Apartment	Parking Ratio	0.81/1,000 SF

Price Per Unit	£522,200
Sale Type	Investment
Net Initial Yield	4.50%
Sale Conditions	1031 Exchange Design & Build
No. Units	12
Property Type	Residential
Property Subtype	Apartment
Apartment Style	Mid Rise
Building Class	B
Lot Size	0.09 AC
Building Size	17,318 SF
Number of Floors	7
Year Built	2007
Parking Ratio	0.81/1,000 SF

Unit Amenities

Heating

Unit Mix Information

Description	No. Units	Avg. Rent.Mo	SF
2+1	12	-	-

PROPERTY TAXES

Parcel Number	05392-0085	Improvements Assessment	£569,263
Land Assessment	£63,447	Total Assessment	£632,711

PROPERTY TAXES

Parcel Number

05392-0085

Land Assessment

£63,447

Improvements Assessment

£569,263

Total Assessment

£632,711

zoning

Zoning Code	R7B (Medium-Density Apartment House District with Lower Parking Requirements.)
R7B (Medium-Density Apartment House District with Lower Parking Requirements.)

Listing ID: 25264097
Date on Market: 16/03/2022
Last Updated:
Address: 475 E Eighth St, Brooklyn, NY 11218

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