The New York Multifamily team at Marcus & Millichap is proud to present 750 Washington Avenue to the market. The subject property is an expertly maintained and updated 16-unit multifamily building in Prospect Heights, Brooklyn, offered at $5,400,000 at a 6.5% cap rate. The asset produces strong in-place cash flow and a high current yield relative to the submarket, positioning it for an investor focused on stabilize, income-producing Brooklyn multifamily.
The building sits on Washington Avenue between the Brooklyn Botanic Garden and the Brooklyn Museum, along one of Prospect Heights' most established residential corridors. Transportation access is excellent: the 2 and 3 trains at Eastern Parkway–Brooklyn Museum and the C train at Clinton–Washington Avenues are both a short walk away, providing direct service to Downtown Brooklyn and Manhattan.
Comprising 7,720 square feet, the property is priced at $699 per square foot ($337,500 per unit) — an attractive basis for a cash-flowing asset in a strong location. Most of the building has been renovated.