886 Franklin Ave - Apartments FOR SALE


Brooklyn, NY 11225- Crown Heights
$3,700,000 USD
718-475-4300
886 Franklin Ave, Brooklyn, NY for Sale
$3,700,000 USD
Apartments - FOR SALE
1/34
null | 6.9% Cap Rate

886 Franklin Ave
Brooklyn, NY 11225
Crown Heights


OVERVIEW

886 Franklin Avenue is a three-story mixed-use building in Crown Heights with four free-market apartments over one store. The rents in place today put it at a 6.9% cap day one, with room to push it higher through capital improvements. The apartments aren't typical. The two top-floor units are lofts, and both second-floor units have their own outdoor space. The retail space is enormous. It runs 90 feet deep with a full basement underneath. Location and Transportation The building sits in the middle of one of central Brooklyn's busiest retail strips, with restaurants, cafés, bars and neighborhood retail drawing steady foot traffic all day. Prospect Park, the Brooklyn Botanic Garden and the Brooklyn Museum are all about a ten-minute walk, and Medgar Evers College is two blocks south. Transit is three blocks away. Franklin Avenue–Medgar Evers College at Eastern Parkway is an express stop on the 2, 3, 4 and 5, which puts Atlantic Terminal one stop away and Manhattan a direct ride. The Franklin Avenue Shuttle runs out of the same station with a free transfer, connecting to the B and Q at Prospect Park and the C at Fulton Street.

FOR SALE DETAILS

PRICE

$3,700,000 USD

PRICE/SF

$698 USD /SF

# OF UNITS

5

PRICE/UNIT

$740,000

CAP RATE

6.9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1915

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

R8X, C2-4

APN/PARCEL ID

01188-0055

ASK ABOUT THIS PROPERTY

Andrew BronsteenNew York MultifamilyMore Info
718-475-4300

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Andrew BronsteenNew York MultifamilyMore Info
718-475-4300

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