55 Stanhope St - Apartments FOR SALE


Brooklyn, NY 11221- Bushwick
$4,500,000 USD
718-360-8849
55 Stanhope St, Brooklyn, NY for Sale
$4,500,000 USD
Apartments - FOR SALE
1/16
null | 5.42% Cap Rate

55 Stanhope St
Brooklyn, NY 11221
Bushwick


HIGHLIGHTS

  • Not Subject to Good Cause Eviction
  • Free Market Apartments
  • Protected 2B Tax Class

OVERVIEW

Investment Property Realty Group (IPRG) has been exclusively retained to sell 55 Stanhope Street. The subject property is located between Evergreen Avenue and Central Avenue in the Bushwick neighborhood of Brooklyn. Built in 2016 as a protected 2B tax class new building, the property offers 8 free market apartments that are not subject to Good Cause Eviction. Each unit has separate utilities including heat/hot water and wall mounted AC units. The basement contains laundry machines for use by tenants. This investment provides strong, consistent cash flow with the opportunity to increase under market rents for long term appreciation. The property is located within walking distance to the J, Z, M and L subway lines for easy access to Manhattan. There is also an abundance of strong retail along Knickerbocker Avenue, Myrtle Avenue and Broadway.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$809 USD /SF

# OF UNITS

8

PRICE/UNIT

$562,500

CAP RATE

5.42%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2014

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,500 SF

ZONING

R6

APN/PARCEL ID

03254-0071

ASK ABOUT THIS PROPERTY

Brian DavilaInvestment Property Realty GroupMore Info
718-360-8849

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Brian DavilaInvestment Property Realty GroupMore Info
718-360-8849

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