1076-1084 New York Ave - Apartments FOR SALE


Brooklyn, NY 11203- East Flatbush
$6,800,000 USD
973-873-8444
1076-1084 New York Ave, Brooklyn, NY for Sale
$6,800,000 USD
Apartments - FOR SALE
1/14
null | 10.21% Cap Rate

1076-1084 New York Ave
Brooklyn, NY 11203
East Flatbush


HIGHLIGHTS

  • 27 of 62 apartments gut renovated
  • very well maintained
  • over 10% cap

OVERVIEW

Welcome to 1084 New York Avenue, a well-positioned multifamily property located on the corner of New York Avenue and Tilden Avenue. The property consists of 62 apartments and a corner retail store, offering a strong combination of residential and commercial income. Over the past eight years, the property has benefited from more than $2.5 million in capital improvements, demonstrating a significant commitment to upgrading and maintaining the asset. To date, 27 of the 62 apartments have been gut renovated, providing modernized units and creating an opportunity for continued value enhancement as additional apartments are renovated. additionally, there are currently 8 vacant apartments The property is professionally managed and well maintained by an experienced management company, providing investors with an established operational infrastructure. The location offers convenient access to public transportation, with the 2 and 5 subway lines approximately three blocks away and Kings Theatre approximately ten blocks from the property, providing residents with easy access to transportation, entertainment, shopping, and neighborhood amenities. With substantial capital already invested, nearly half of the apartments renovated, and additional potential to increase value through continued apartment upgrades, 1084 New York Avenue presents an attractive opportunity for investors seeking a stabilized multifamily asset with further upside potential.

FOR SALE DETAILS

PRICE

$6,800,000 USD

PRICE/SF

$143 USD /SF

# OF UNITS

63

PRICE/UNIT

$107,937

CAP RATE

10.21%

% LEASED

87%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

almost half the apartments are gut renovated!

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1926

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,751 SF

ZONING

R6, Brooklyn, (C7)

APN/PARCEL ID

04917-0006

ASK ABOUT THIS PROPERTY

Avraham BirnbaumTwelve Stones Realty LLCMore Info
973-873-8444

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Avraham BirnbaumTwelve Stones Realty LLCMore Info
973-873-8444

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.