37 Wilson Ave - Apartments FOR SALE


Brooklyn, NY 11237- Bushwick
$4,875,000 USD
917-626-8413
37 Wilson Ave, Brooklyn, NY for Sale
$4,875,000 USD
Apartments - FOR SALE
1/9
null | 6.27% Cap Rate

37 Wilson Ave
Brooklyn, NY 11237
Bushwick


HIGHLIGHTS

  • New Construction Multifamily | Built in 2020
  • 35-Year 421-A Tax Abatement
  • Fully Occupied and Stabilized
  • Taxes $925/year | Low Expenses

OVERVIEW

Bijou Equities is exclusively selling 37 WILSON AVENUE — a 2020-built, New-Construction 8-unit multifamily asset located in prime North Bushwick between George and Melrose Streets. The property is a four-story, 7,678 square foot building benefiting from a 35-year 421-A tax abatement, providing long-term tax protection in exchange for 30% of the units designated as affordable. Taxes are currently $925/year The building is fully occupied and currently generating approximately $345,000 in gross income and $305,000 in net operating income, delivering immediate cash flow from day one. Positioned on Wilson Avenue just off Flushing Avenue in Bushwick, the property is steps from the Morgan Avenue L and Jefferson Street L trains, near Maria Hernandez Park, and surrounded by Bushwick’s vibrant restaurant, nightlife, and retail corridor.

FOR SALE DETAILS

PRICE

$4,875,000 USD

PRICE/SF

$635 USD /SF

# OF UNITS

8

PRICE/UNIT

$609,375

CAP RATE

6.27%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

37 Wilson Ave

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2021

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

R6

APN/PARCEL ID

03158-0004

ASK ABOUT THIS PROPERTY

Fred BijouBijou EquitiesMore Info
917-626-8413

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Fred BijouBijou EquitiesMore Info
917-626-8413

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