498 Classon Ave - Apartments FOR SALE


Brooklyn, NY 11238- Clinton Hill
$2,888,000 USD
516-279-8828
498 Classon Ave, Brooklyn, NY for Sale
$2,888,000 USD
Apartments - FOR SALE
1/7
null | 5.02% Cap Rate

498 Classon Ave
Brooklyn, NY 11238
Clinton Hill


HIGHLIGHTS

  • Calling All Investors, Developers, & End-Users!!! 100% Occupied 3 Unit Free Market Apartment Building In Clinton Hill For Sale!!!
  • The Property Features Excellent Signage, Great Exposure, R6B Zoning, High 9’ Ceilings, (3) 3 Br. Apartments, Private Gated Driveway, Rear Yard, +++!!!
  • The Property Is Located In The Heart Of Brooklyn Near I-278, Atlantic Terminal, & The Barclays Center!!!
  • Neighbors Include NYU Langone, Atlantic Center Mall, USPS, CubeSmart Self Storage, Stop & Shop, Planet Fitness, Ridgewood Savings Bank, AutoZone, ++!!
  • This Property Offers HUGE Upside Potential!!!
  • This Could Be Your Next Development Site Or The Next Home For Your Business!!!

OVERVIEW

Calling All Investors, Developers, & End-Users!!! 100% Occupied 3 Unit Free Market Apartment Building In Clinton Hill For Sale!!! The Property Features Excellent Signage, Great Exposure, R6B Zoning, High 9’ Ceilings, (3) 3 Br. Apartments, Private Gated Driveway, Rear Yard, 6 Parking Spaces, Sprinklers, 200 Amp Power, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Brooklyn Near I-278 (Belt Pkwy.), Atlantic Terminal, & The Barclays Center!!! The Property Is Situated Between Atlantic Ave. & Nostrand Ave.!!! Neighbors Include NYU Langone, Atlantic Center Mall, USPS, CubeSmart Self Storage, Stop & Shop, Planet Fitness, Ridgewood Savings Bank, AutoZone, Marshalls, Dave & Busters, Shell, Meineke Car Care Center, Family Dollar, McDonald’s, Chick-fil-A, Wonder, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Apt. 1 (3 Br., 2 Bath): $57,600 Ann.; Lease Exp.: 5/1/27. Apt. 2 (3 Br., 2 Bath): $54,000 Ann. M-M. Apt. 3 (3 Br., 2 Bath): $57,600 Ann. M-M. Gross Income: $169,200 Ann. Expenses: Gas: $0 Ann. Electric: $0 Ann. Water & Sewer: $3,872 Ann Insurance: $3,687 Ann. Taxes: $16,355.80 Ann. Total Expenses: $23,914.80 Ann. Net Operating Income (NOI): $145,286 Ann.

FOR SALE DETAILS

PRICE

$2,888,000 USD

PRICE/SF

$425 USD /SF

# OF UNITS

3

PRICE/UNIT

$962,667

CAP RATE

5.02%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2002

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

R6B

APN/PARCEL ID

01984-0074

ASK ABOUT THIS PROPERTY

Matthew ShaneAll Island CommercialMore Info
516-279-8828

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Matthew ShaneAll Island CommercialMore Info
516-279-8828

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