576 Lenox Rd
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576 Lenox Rd
8 Unit Block of Flats £2,973,310 (£371,664/Unit) 6.50% Net Initial Yield Brooklyn, NY 11203
Investment Highlights
- New Development with Tax abatement
- 8 parking spots
- Fully occupied quality tenants
Executive Summary
Fully occupied 8 unit building for sale. New development, with tax abatement.
5 units are free market, 3 units are affordable.
5 units are free market, 3 units are affordable.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£221,590
|
£32.89
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£221,590
|
£32.89
|
| Taxes |
£2,500
|
£0.37
|
| Operating Expenses |
£24,960
|
£3.70
|
| Total Expenses |
£27,460
|
£4.08
|
| Net Operating Income |
£194,130
|
£28.81
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £221,590 |
| Annual Per SF | £32.89 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £221,590 |
| Annual Per SF | £32.89 |
| Taxes | |
|---|---|
| Annual | £2,500 |
| Annual Per SF | £0.37 |
| Operating Expenses | |
|---|---|
| Annual | £24,960 |
| Annual Per SF | £3.70 |
| Total Expenses | |
|---|---|
| Annual | £27,460 |
| Annual Per SF | £4.08 |
| Net Operating Income | |
|---|---|
| Annual | £194,130 |
| Annual Per SF | £28.81 |
Property Facts
| Price | £2,973,310 | Apartment Style | Mid Rise |
| Price Per Unit | £371,664 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Net Initial Yield | 6.50% | Building Size | 6,738 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 8 | Number of Floors | 4 |
| Property Type | Residential | Year Built | 2023 |
| Property Subtype | Apartment | Parking Ratio | 1.19/1,000 SF |
| Price | £2,973,310 |
| Price Per Unit | £371,664 |
| Sale Type | Investment |
| Net Initial Yield | 6.50% |
| Sale Conditions | 1031 Exchange |
| No. Units | 8 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 6,738 SF |
| Average Occupancy | 100% |
| Number of Floors | 4 |
| Year Built | 2023 |
| Parking Ratio | 1.19/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1.5 | 2 | £2,347 | 735 |
| 2+2 | 4 | £2,152 | 771 |
| 1+1 | 2 | £1,800 | 408 |
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Walk Score ®
Very Walkable (76)
Transit Score ®
Excellent Transit (86)
PROPERTY TAXES
| Parcel Number | 04862-0004 | Total Assessment | £484,845 (2024) |
| Land Assessment | £133,095 (2024) | Annual Taxes | £2,500 (£0.37/sf) |
| Improvements Assessment | £351,750 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
04862-0004
Land Assessment
£133,095 (2024)
Improvements Assessment
£351,750 (2024)
Total Assessment
£484,845 (2024)
Annual Taxes
£2,500 (£0.37/sf)
Tax Year
2023
zoning
| Zoning Code | R5 (a low-density residential zoning district in New York City that allows for a variety of housing types) |
| R5 (a low-density residential zoning district in New York City that allows for a variety of housing types) |
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576 Lenox Rd
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