293 Wyckoff Ave - Apartments FOR SALE


Brooklyn, NY 11237- Bushwick
$2,500,000 USD
718-475-4313
293 Wyckoff Ave, Brooklyn, NY for Sale
$2,500,000 USD
Apartments - FOR SALE
1/24
null | 7.3% Cap Rate

293 Wyckoff Ave
Brooklyn, NY 11237
Bushwick


HIGHLIGHTS

  • Mixed-Use Building Spanning 4,275 SF Above Grade
  • Prime Bushwick Location | L and M Train Access at Myrtle-Wyckoff Transit Hub
  • Four Renovated Railroad Layout 2-Bedroom Apartments Spanning 625+ Net SF
  • Tax Class 2A - $11,838 Annual Tax Bill
  • Asking: $2,500,000 | 7.3% Cap Rate

OVERVIEW

293 Wyckoff Avenue offers investors the opportunity to acquire a fully occupied, income-producing mixed-use property in the heart of Bushwick—one of Brooklyn’s most active and sought-after rental markets. The building consists of four free-market residential apartments and two ground-floor commercial spaces, delivering a diversified and stable revenue stream. The residential component is comprised entirely of free-market two-bedroom railroad apartments, all currently leased and generating strong in-place rents with clear upside through repositioning and natural turnover. The property is fully occupied, allowing for immediate cash flow from day one. The commercial portion features two retail spaces, including an established tattoo parlor and an additional vacant storefront for lease, providing long-term income stability with growth potential. Spanning approximately 4,275 square feet, the building benefits from an efficient operating profile with a low expense ratio and tenant-paid utilities, contributing to strong net operating income. The asset is currently achieving a 7.3% cap rate, with upside to a 7.7% pro forma cap rate. Positioned near the Myrtle-Wyckoff transit hub, the property provides convenient access to multiple subway lines, major retail corridors, and neighborhood amenities. Additionally, the property includes approximately 1,372 square feet of unused air rights, offering future development or expansion potential within an R6, C1-3 zoning district.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$585 USD /SF

# OF UNITS

6

PRICE/UNIT

$416,667

CAP RATE

7.3%

% 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

2,614 SF

ZONING

R6/C1-3

APN/PARCEL ID

03329-0004

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.