$3,595,000 USD
212-430-5100
487 Atlantic Ave
Brooklyn, NY 11217
Downtown Brooklyn
HIGHLIGHTS
- The property, spanning 4,324 square feet, offers 2 historically free-market apartments with strong in-place rents in a high rental demand location.
- The Eastville Comedy Club, a long-standing local favorite, provides income stability through a strong rent of $13,134 per month.
- Offering stable in-place income and an attractive 6.3% cap rate in place with room to grow in to over a 7% cap rate with light renovation.
- With 4,174 square feet of additional air rights, 487 Atlantic Avenue offers unique development potential on a prime Brooklyn retail corridor
FOR SALE DETAILS
PRICE
$3,595,000 USD
PRICE/SF
$998 USD /SF
# OF UNITS
2
PRICE/UNIT
$1,797,500
CAP RATE
6.3%
% LEASED
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
487 Atlantic Avenue
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
3
YEAR BUILT
1920
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.05 AC
LAND SF
2,178 SF
ZONING
R7A
APN/PARCEL ID
00179-0047
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212-430-5100
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212-430-5100
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