487 Prospect Pl
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487 Prospect Pl
8 Unit Block of Flats £1,485,873 (£185,734/Unit) 7.18% Net Initial Yield Brooklyn, NY 11238
Investment Highlights
- Heavy daytime foot traffic.
- High vehicle count.
Executive Summary
We are pleased to present this well-maintained 8 family in a superb location in Prospect Heights. Offering approximately 9000 square feet on 4 stories. Prospect Place is a beautiful tree lined Street boasting turn of the century charm. This remarkable building is 30’ wide and 85’deep offering very large floor plans each filled with natural light, a generous amount of windows and great ceiling heights. The building boasts many updates including kitchens, baths, hardwood flooring and concrete. All located moments from the many local shops and restaurants of Washington & Franklin Avenue, The Brooklyn Museum & Botanical Gardens, Prospect Park and mass transportation (2,3,4,5 Trains). All apartments have 2 bedrooms, 1 full bath, a living room and separate dining room. Seven Units are Rent Stabilized one unit is Rent Controlled.
Financial Summary (Actual - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£149,019
|
£16.77
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£149,019
|
£16.77
|
| Taxes |
£11,238
|
£1.26
|
| Operating Expenses |
£30,972
|
£3.49
|
| Total Expenses |
£42,209
|
£4.75
|
| Net Operating Income |
£106,810
|
£12.02
|
Financial Summary (Actual - 2022)
| Gross Rental Income | |
|---|---|
| Annual | £149,019 |
| Annual Per SF | £16.77 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £149,019 |
| Annual Per SF | £16.77 |
| Taxes | |
|---|---|
| Annual | £11,238 |
| Annual Per SF | £1.26 |
| Operating Expenses | |
|---|---|
| Annual | £30,972 |
| Annual Per SF | £3.49 |
| Total Expenses | |
|---|---|
| Annual | £42,209 |
| Annual Per SF | £4.75 |
| Net Operating Income | |
|---|---|
| Annual | £106,810 |
| Annual Per SF | £12.02 |
Property Facts
| Price | £1,485,873 | Apartment Style | Low Rise |
| Price Per Unit | £185,734 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Net Initial Yield | 7.18% | Building Size | 8,884 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Residential | Number of Floors | 4 |
| Property Subtype | Apartment | Year Built/Renovated | 1907/2015 |
| Price | £1,485,873 |
| Price Per Unit | £185,734 |
| Sale Type | Investment |
| Net Initial Yield | 7.18% |
| No. Units | 8 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 8,884 SF |
| Average Occupancy | 100% |
| Number of Floors | 4 |
| Year Built/Renovated | 1907/2015 |
Unit Amenities
- Wooden Floors
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | - |
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Walk Score ®
Walker's Paradise (93)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 01155-0063 | Total Assessment | £1,177,994 (2024) |
| Land Assessment | £5,986 (2024) | Annual Taxes | £11,238 (£1.26/sf) |
| Improvements Assessment | £1,172,008 (2024) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
01155-0063
Land Assessment
£5,986 (2024)
Improvements Assessment
£1,172,008 (2024)
Total Assessment
£1,177,994 (2024)
Annual Taxes
£11,238 (£1.26/sf)
Tax Year
2022
zoning
| Zoning Code | r6a (Medium density residential district) |
| r6a (Medium density residential district) |
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487 Prospect Pl
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