1512 Pitkin Ave - Apartments FOR SALE


Brooklyn, NY 11212- Brownsville
$2,600,000 USD
516-605-7459
1512 Pitkin Ave, Brooklyn, NY for Sale
$2,600,000 USD
Apartments - FOR SALE
1/7
null | 8.22% Cap Rate

1512 Pitkin Ave
Brooklyn, NY 11212
Brownsville


HIGHLIGHTS

  • Prime Mixed-Use Opportunity in Brownsville
  • Total of 8 Free Market Residential Units over a Restaurant
  • Located Along the Pitkin Avenue Retail Corridor
  • Short Walk to the Sutter Avenue/Rutland Road "2,3,4" Subway Station

OVERVIEW

Layout: Basement: Mechanicals | Potential for Storage or Retail Use Ground Floor: 1 Commercial Occupying Full Ground Floor | Potential Access to Backyard & Basement Second Floor: 4 apartments 2A – Studio | 1-Bathroom 2B – 1-Bedroom | 1-Bathroom 2C – 1-Bedroom | 1-Bathroom 2D – Studio | 1-Bathroom Third Floor: 4 apartments 3A – Studio | 1-Bathroom 3B – 1-Bedroom | 1-Bathroom 3C – 1-Bedroom | 1-Bathroom 3D – Studio | 1-Bathroom Additional Notes: Building was Altered (Alt 2) in 2009, receiving a new Certificate of Occupancy in 2012 Building was Converted From 2 Apartments & 1 Store to 8 Apartments & 1 Store Through alteration 2, Which Does Not Jeopardize the Free Market Status. Investment Opportunity: The Building is Currently Cash Flowing w/ 8 Free Market units & 1 Store NYC Pays Majority of Rent Through Vouchers | (Request for Breakdown) Additional 2,223 Buildable Square Feet of Air Rights Protected Tax Class 2B (Limited Tax Increases) Location: Located in Brownsville Along High Trafficked Pitkin Avenue Within walking distance to the 3 | A | C Train Lines & B14 Bus Across the Street

FOR SALE DETAILS

PRICE

$2,600,000 USD

PRICE/SF

$458 USD /SF

# OF UNITS

9

PRICE/UNIT

$288,889

CAP RATE

8.22%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

C4-3 (M9)

APN/PARCEL ID

03514-0036

ASK ABOUT THIS PROPERTY

Jason GrunbergSAB CapitalMore Info
516-605-7459

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Jason GrunbergSAB CapitalMore Info
516-605-7459

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