1463 E 3rd St - Apartments FOR SALE


Brooklyn, NY 11230- Midwood
$5,250,000 USD
929-552-3202
1463 E 3rd St, Brooklyn, NY for Sale
$5,250,000 USD
Apartments - FOR SALE
1/14
null | 5.96% Cap Rate

1463 E 3rd St
Brooklyn, NY 11230
Midwood


HIGHLIGHTS

  • Investors have the opportunity to acquire a 31-unit pre-war apartment building located in the Midwood/Flatbush neighborhood of Brooklyn.
  • Situated in a residential setting, the property offers excellent accessibility via the Avenue N subway station, just two blocks away.
  • Just a quick walk to neighborhood conveniences such as Dunkin’, Moisha's Discount Supermarket, Crown Bagels & Pizza, and many more.
  • Area demographics bode well for investors with a majority of renter-occupied households and incomes ringing in at $85,996 within a 1-mile radius.

OVERVIEW

Investors have the chance to acquire a 31-unit multifamily property located in Midwood/Flatbush. 1463 E 3rd Street stands out as a prime investment opportunity in Brooklyn, offering an expansive 22,600 square feet spread over four stories. The building sits on a peaceful, tree-lined street, providing residents with both privacy and a tranquil living environment. It includes a mix of apartments: 23 one-bedroom units, seven two-bedroom units, and one three-bedroom unit. Built in 1927, this pre-war structure is a longstanding part of the neighborhood. With its straightforward brick façade, the property requires minimal upkeep, making it appealing to investors. The interior features an elegant lobby accented with crown molding and intricate ceiling details. Each apartment offers generous space for residents to personalize their homes. Buyers can benefit from existing rental income and potentially lease vacant units at current market rates. This property is strategically situated within Brooklyn, offering excellent walkability, bicycle accessibility, and proximity to mass transit options. This location is known for its charm, with tall brick buildings complemented by wrought-iron fire escapes, while wide sidewalks guide pedestrians past well-regarded neighborhood bakeries, delicatessens, and boutiques. Additionally, the area's tree-lined streets impart a suburban ambiance. Multiple subway stations are conveniently distributed throughout, providing approximately a 45-minute commute to Manhattan. Brooklyn College is located just beyond this neighborhood.

FOR SALE DETAILS

PRICE

$5,250,000 USD

PRICE/SF

$232 USD /SF

# OF UNITS

31

PRICE/UNIT

$169,355

CAP RATE

5.96%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Brooklyn 4-Story 31-Unit Multifamily

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1927

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

8,002 SF

ZONING

R5

APN/PARCEL ID

06566-0054

ASK ABOUT THIS PROPERTY

Andrew LichtensteinAndrew Lichtenstein, Inc. d.b.a. LichtensteinREMore Info
929-552-3202

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Andrew LichtensteinAndrew Lichtenstein, Inc. d.b.a. LichtensteinREMore Info
929-552-3202

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