321 Menahan St - Apartments FOR SALE


Brooklyn, NY 11237- Bushwick
$1,300,000 USD
718-475-4313
321 Menahan St, Brooklyn, NY for Sale
$1,300,000 USD
Apartments - FOR SALE
1/23
null | 6.6% Cap Rate

321 Menahan St
Brooklyn, NY 11237
Bushwick


HIGHLIGHTS

  • 6-Unit Multifamily Building Spanning 4,875 SF Above Grade | 100% RS
  • Prime Residential Bushwick Location | Myrtle-Wyckoff Transit Hub
  • Thoroughly Maintained with Two High-End 2-Bedroom Apartments
  • Extensive IAI Paperwork Backup Available
  • Tax Class 2A | $12,176 Annual Property Taxes
  • Asking $1,300,000 | 6.6% Cap Rate | $267/SF

OVERVIEW

321 Menahan Street presents a compelling opportunity to purchase a well-maintained 6-unit multifamily building in the heart of Bushwick, one of Brooklyn’s most active and high-demand rental markets. Spanning 4,875 square feet above grade, the property is offered at an attractive $267/SF basis, well below today's replacement cost, and delivers a strong 6.6% in-place cap rate at asking. The asset has been consistently maintained and thoughtfully upgraded, including the renovation of two units to high-end 2-bedroom finishes, offering meaningful and financeable stabilized income. Situated just steps from the Myrtle–Wyckoff transit hub, the property provides access to both the L and M subway lines, offering seamless transportation to Manhattan and North Brooklyn. The surrounding neighborhood continues to boast strong demand, population growth, an influx of new retail - such as Whole Foods - and institutional capital. With protected annual taxes of $12,176 (Tax Class 2A) and a compliance-clean asset, 321 Menahan Street represents a rare chance to acquire strong cash flow with a meaningful entry basis in one of Brooklyn’s most dynamic submarkets.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$267 USD /SF

# OF UNITS

6

PRICE/UNIT

$216,667

CAP RATE

6.6%

% LEASED

100%

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

APN/PARCEL ID

03310-0054

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.