538 Bainbridge St
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538 Bainbridge St
6 Unit Block of Flats £1,282,510 (£213,752/Unit) 7.81% Net Initial Yield Brooklyn, NY 11233
Investment Highlights
- Calling All Investors, Developers, & End-Users!!! 100% Occupied 6 Unit Free Market Apartment Building In Bushwick For Sale!!!
- The Property Is Located In The Heart Of Bed-Stuy Just A Few Blocks Off Atlantic Avenue Near Highland Park!!!
- Neighbors Include UPS, The Home Depot, Dunkin’, CubeSmart Self Storage, Walgreens], AutoZone, Planet Fitness, Blink Fitness, GameStop, Baskin-Robbins,
- The Property Features Excellent Signage, Great Exposure, Strong R6 Zoning, 6 Parking Spaces, High 10’ Ceilings, Separate Meters, Low Property Taxes,+!
- The Property Is Situated Minutes From The Barclays Center, Brooklyn Children’s Museum & The Prospect Park Zoo!!!
- This Property Offers HUGE Upside Potential!!!
Executive Summary
Calling All Investors, Developers, & End-Users!!! 100% Occupied 6 Unit Free Market Apartment Building In Bushwick For Sale!!! The Property Features Excellent Signage, Great Exposure, Strong R6 Zoning, 6 Parking Spaces, High 10’ Ceilings, Separate Meters, Low Property Taxes, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Bed-Stuy Just A Few Blocks Off Atlantic Avenue Near Highland Park!!! The Property Is Situated Minutes From The Barclays Center, Brooklyn Children’s Museum & The Prospect Park Zoo!!! Neighbors Include UPS, The Home Depot, Dunkin’, CubeSmart Self Storage, Walgreens, AutoZone, Planet Fitness, Blink Fitness, GameStop, Baskin-Robbins, Mobil, McDonald’s, Mavis Discount Tire, Family Dollar, Wendy’s, White Castle, KFC, +++!!! This Property Offers HUGE Upside Potential!!!
Income:
Unit 1L : $22,572 Ann.
Unit 1R: $31,008 Ann.
Unit 2L: $22,200 Ann.
Unit 2R: $21,000 Ann.
Unit 3R: $25,896 Ann.
Unit 3L: $22,200 Ann.
Gross Income: $144,876 Ann.
Expenses:
Gas : $0 Ann.
Electric: $0 Ann.
Water + Sewer: $4,335 Ann.
Insurance: $5,000 Ann.
Taxes: $7,786.42 Ann.
Total Expenses: $17,121.42 Ann.
Net Operating Income (NOI): $127,754.58 Ann. (7.81 Cap!!!)
Income:
Unit 1L : $22,572 Ann.
Unit 1R: $31,008 Ann.
Unit 2L: $22,200 Ann.
Unit 2R: $21,000 Ann.
Unit 3R: $25,896 Ann.
Unit 3L: $22,200 Ann.
Gross Income: $144,876 Ann.
Expenses:
Gas : $0 Ann.
Electric: $0 Ann.
Water + Sewer: $4,335 Ann.
Insurance: $5,000 Ann.
Taxes: $7,786.42 Ann.
Total Expenses: $17,121.42 Ann.
Net Operating Income (NOI): $127,754.58 Ann. (7.81 Cap!!!)
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£113,642
|
£20.35
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£113,642
|
£20.35
|
| Taxes |
£6,107
|
£1.09
|
| Operating Expenses |
£7,322
|
£1.31
|
| Total Expenses |
£13,430
|
£2.40
|
| Net Operating Income |
£100,212
|
£17.94
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £113,642 |
| Annual Per SF | £20.35 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £113,642 |
| Annual Per SF | £20.35 |
| Taxes | |
|---|---|
| Annual | £6,107 |
| Annual Per SF | £1.09 |
| Operating Expenses | |
|---|---|
| Annual | £7,322 |
| Annual Per SF | £1.31 |
| Total Expenses | |
|---|---|
| Annual | £13,430 |
| Annual Per SF | £2.40 |
| Net Operating Income | |
|---|---|
| Annual | £100,212 |
| Annual Per SF | £17.94 |
Property Facts
| Price | £1,282,510 | Building Class | C |
| Price Per Unit | £213,752 | Lot Size | 0.06 AC |
| Sale Type | Investment | Building Size | 5,585 SF |
| Net Initial Yield | 7.81% | Average Occupancy | 100% |
| No. Units | 6 | Number of Floors | 3 |
| Property Type | Residential | Year Built | 1907 |
| Property Subtype | Apartment | Parking Ratio | 1.07/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Price | £1,282,510 |
| Price Per Unit | £213,752 |
| Sale Type | Investment |
| Net Initial Yield | 7.81% |
| No. Units | 6 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 5,585 SF |
| Average Occupancy | 100% |
| Number of Floors | 3 |
| Year Built | 1907 |
| Parking Ratio | 1.07/1,000 SF |
| Opportunity Zone |
Yes |
Site Amenities
- 24 Hour Access
- Security System
- Storage Space
- Bicycle Storage
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 4 | - | - |
Walk Score ®
Very Walkable (88)
Transit Score ®
Rider's Paradise (100)
PROPERTY TAXES
| Parcel Number | 01510-0027 | Total Assessment | £265,162 (2024) |
| Land Assessment | £4,942 (2024) | Annual Taxes | £6,107 (£1.09/sf) |
| Improvements Assessment | £260,220 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
01510-0027
Land Assessment
£4,942 (2024)
Improvements Assessment
£260,220 (2024)
Total Assessment
£265,162 (2024)
Annual Taxes
£6,107 (£1.09/sf)
Tax Year
2023
zoning
| Zoning Code | R6,Brooklyn,(C2) |
| R6,Brooklyn,(C2) |
-
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