16-18 Lenox Rd - Apartments FOR SALE


Brooklyn, NY 11226- Flatbush-Ditmas Park
$4,650,000 USD
516-279-8828
16-18 Lenox Rd, Brooklyn, NY for Sale
$4,650,000 USD
Apartments - FOR SALE
1/18
null | 5.84% Cap Rate

16-18 Lenox Rd
Brooklyn, NY 11226
Flatbush-Ditmas Park


HIGHLIGHTS

  • Calling All Investors, Developers, & End-Users!!! 100% Occupied 12 Unit Free Market Apartment Building In Brooklyn For Sale!!!
  • The Property Features Excellent Signage, Great Exposure, R6B Zoning, (7) 2 Bedroom Apts., (5) 1 Bedroom Apts., Security Camera System, +++!!!
  • The Property Is Located In The Heart Of Flatbush Just Off Rt. 27 Near The Brooklyn Museum, Kings Theatre, Prospect Park & Just Minutes From I-278!!!
  • Neighbors Include Chase Bank, USPS, Safeguard Self Storage, Target, Foot Locker, Old Navy, Planet Fitness, AT&T,  Boost Mobile,  Dunkin’, +++!!!
  • The Entire Building Underwent A Gut Renovation In 2024!!!
  • This Property Offers HUGE Upside Potential!!!

OVERVIEW

Calling All Investors, Developers, & End-Users!!! 100% Occupied 12 Unit Free Market Apartment Building In Brooklyn For Sale!!! The Property Features Excellent Signage, Great Exposure, R6B Zoning, (7) 2 Bedroom Apts., (5) 1 Bedroom Apts., Security Camera System, High 9’ Ceilings, Basement, Separate Meters, 6 Parking Spaces, 3 Phase Power, All New LED LIghting, A/C, +++!!! The Property Is Located In The Heart Of Flatbush Just Off Rt. 27 Near The Brooklyn Museum, Kings Theatre, Prospect Park & Just Minutes From I-278!!!  Neighbors Include Chase Bank, USPS, Safeguard Self Storage, Target, Foot Locker, Old Navy, Planet Fitness, AT&T,  Boost Mobile,  Dunkin’, Key Food, H & R Block, Walgreens, McDonald’s, Popeye’s Louisiana Kitchen, Domino’s Pizza, CVS, +++!!! The Entire Building Underwent A Gut Renovation In 2024!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Apt. 1: $26,400 Ann.; Lease Exp.: 11/30/26. Apt. 2: $30,000 Ann.; Lease Exp.: 5/31/27. Apt. 3: $30,300 Ann.; Lease Exp.: 12/31/26. Apt. 4: $30,000 Ann.; Lease Exp.: 10/31/26. Apt. 5: $39,000 Ann.; Lease Exp.: 5/31/26. Apt. 6: $27,600 Ann.; Lease Exp.: 9/30/26. Apt. 7: $28,800 Ann.; Lease Exp.: 10/31/25. Apt. 8: $36,000 Ann.; Lease Exp.: 7/3/26. Apt. 9: $26,400 Ann.; Lease Exp.: 9/30/25. Apt. 10: $30,000 Ann.; Lease Exp.: 12/31/26. Apt. 11: $36,000 Ann.; Lease Exp.: 6/30/26. Apt. 12: $27,600 Ann.; Lease Exp.: 4/30/27.  Gross Income: $368,100 Ann. Expenses:  LHP: $9,108.05 Ann. Insurance: $ 7,200 Ann.  Cleaning & Maintenance: $3,600 Ann. Security System/Cable: $632.64 Ann. Water: $3,929.23 Ann.  Taxes: $71,895.92 Ann.  Total Expenses: $96,365.84 Ann.  Net Operating Income (NOI): $271,731.16 Ann.

FOR SALE DETAILS

PRICE

$4,650,000 USD

PRICE/SF

$599 USD /SF

# OF UNITS

12

PRICE/UNIT

$387,500

CAP RATE

5.84%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

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

1912

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

4,021 SF

ZONING

R6B

APN/PARCEL ID

05083-0020

ASK ABOUT THIS PROPERTY

Matthew ShaneAll Island CommercialMore Info
516-279-8828

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

Matthew ShaneAll Island CommercialMore Info
516-279-8828

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