22 Patchen Ave - Apartments FOR SALE


Brooklyn, NY 11221- Stuyvesant Heights
$2,799,000 USD
347-762-4055
22 Patchen Ave, Brooklyn, NY for Sale
$2,799,000 USD
Apartments - FOR SALE
1/13
null | Request Cap Rate

22 Patchen Ave
Brooklyn, NY 11221
Stuyvesant Heights


HIGHLIGHTS

  • Fully renovated multifamily building.
  • 7 residential units totaling approximately 3,600 square feet.
  • Currently vacant and was recently completed.
  • Unit mix includes six 1-bedroom units and one 2-bedroom apartment with a private backyard and a cellar.
  • The property is separately metered for heat and electric.
  • Projected $248,400 in gross annual income with $207,035 NOI.

OVERVIEW

Asset CRG Advisors, LLC, has been exclusively retained to market 22 Patchen Ave, a fully renovated multifamily building located in the Bedford-Stuyvesant neighborhood of Brooklyn. Property underwent substantial rehabilitation and ownership can provide supporting documentation. The property consists of approximately 3,600 built square feet and is currently configured with 7 residential units, including six one bedroom apartments and one two-bedroom apartment with a private backyard and a cellar. The building is separately metered for heat and electric and benefits from Protected Tax Class 2B status, limiting future tax increases. The property is currently vacant and was recently completed, presenting an opportunity for immediate lease-up. Upon full occupancy, the asset is projected to generate approximately $248,400 in gross annual income and $207,035 in net operating income, offering strong cash flow potential for investors seeking a turnkey multifamily asset.

FOR SALE DETAILS

PRICE

$2,799,000 USD

PRICE/SF

$778 USD /SF

# OF UNITS

7

PRICE/UNIT

$399,857

CAP RATE

Request Cap Rate

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1931

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,800 SF

ZONING

R6B

APN/PARCEL ID

01612-0048

ASK ABOUT THIS PROPERTY

Sadya LiberowAsset CRG Advisors LLCMore Info
347-762-4055

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Sadya LiberowAsset CRG Advisors LLCMore Info
347-762-4055

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