1881 Pitkin Ave - Apartments FOR SALE


Brooklyn, NY 11212- Brownsville
$5,000,000 USD
212-381-6057
1881 Pitkin Ave, Brooklyn, NY for Sale
$5,000,000 USD
Apartments - FOR SALE
1/1
null | 8.98% Cap Rate

1881 Pitkin Ave
Brooklyn, NY 11212
Brownsville


HIGHLIGHTS

  • Vacant Mixed-Use Building
  • Corner Building
  • Move-in ready

OVERVIEW

Matheos Realty Group is pleased to present the exclusive offering of 1881 Pitkin Avenue, a four-story mixed-use property located at the corner of Pitkin Avenue and Junius Street, on the border of Brownsville and East New York, Brooklyn. The building comprises 25 rent-stabilized apartments and four free-market retail stores on the ground floor, totaling 17,924 square feet. All units will be delivered vacant, offering investors full control to reposition and stabilize the asset for maximum performance. The apartments are configured as one- and two bedroom layouts, each with abundant windows and natural light. Once fully leased, the property has the potential to generate approximately $754,761 in gross income and $448,865 in net operating income. Its prominent corner exposure further enhances its retail presence along Pitkin Avenue.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$346 USD /SF

# OF UNITS

26

PRICE/UNIT

$192,308

CAP RATE

8.98%

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1881 Pitkin Avenue

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1905

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,797 SF

ZONING

M1-4

APN/PARCEL ID

03712-0033

ASK ABOUT THIS PROPERTY

Peter MatheosMatheos RealtyMore Info
212-381-6057

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Peter MatheosMatheos RealtyMore Info
212-381-6057

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