291 Wyckoff Ave - Apartments FOR SALE


Brooklyn, NY 11237- Bushwick
$945,000 USD
718-475-4313
291 Wyckoff Ave, Brooklyn, NY for Sale
$945,000 USD
Apartments - FOR SALE
1/26
null | 7.7% Cap Rate

291 Wyckoff Ave
Brooklyn, NY 11237
Bushwick


HIGHLIGHTS

  • 6-Unit Multifamily Building Spanning 4,350 SF Above Grade
  • Prime Bushwick Location | L and M Train Access at Myrtle-Wyckoff Transit Hub
  • Two High-End Duplexed Apartments | Extensive Paperwork Backup Available
  • Tax Class 2A - $15,420 Annual Tax Bill
  • Asking: $945,000 | 7.7% Cap Rate | $217/SF

OVERVIEW

291 Wyckoff Avenue offers investors the opportunity to acquire a fully occupied, income-producing multifamily property in the heart of Bushwick - one of Brooklyn’s most active and sought-after rental markets. The building boasts two high-end ground floor duplexes with private backyards, delivering a reliable revenue stream with upside potential. Spanning approximately 4,350 square feet with an asking price equivalent of $217/SF, this offering is well below replacement costs and is currently achieving a 7.7% cap rate, with the ability to stabilize at an 8.8% pro forma cap rate. Located in an established retail corridor just moments from the Myrtle-Wyckoff transit hub, the asset is ideally situated near multiple subway lines and neighborhood amenities - making it highly attractive to both residential and commercial tenants. Additionally, the property includes approximately 1,363 square feet of unused air rights, offering future development or expansion potential within an R6, C1-3 zoning district.

FOR SALE DETAILS

PRICE

$945,000 USD

PRICE/SF

$217 USD /SF

# OF UNITS

6

PRICE/UNIT

$157,500

CAP RATE

7.7%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1931

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,596 SF

ZONING

R6

APN/PARCEL ID

03329-0005

ASK ABOUT THIS PROPERTY

Vincent TomaselliMarcus & MillichapMore Info
718-475-4313

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Vincent TomaselliMarcus & MillichapMore Info
718-475-4313

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