603 E 94th Street, East Flatbush, Brooklyn | Multi-Family | $6,000,000

Home/Investment Sales/Exclusive Investment Sales/603 E 94th Street, East Flatbush, Brooklyn | Multi-Family | $6,000,000

603 E 94th Street, East Flatbush, Brooklyn | Multi-Family | $6,000,000

$6,000,000.00

Offering Memorandum

Details

  • Thirty-unit multi-family building in the East Flatbush neighborhood of Brooklyn.
  • Occupancy is at 100% with one unit dedicated for the super.
  • Heating system was recently upgraded to a gas boiler.
  • Additional revenue is earned from rooftop antennas leased out AT&T /Sprint with 15 years remaining with 3% yearly escalations.
  • Ownership has applied and accepted a reduction in tax assessment.
  • Lot Size: 8,000 SF (80′ x 100′)
  • Building Size: 3,880 SF (80′ x 90′)
  • Number of Units: 30
  • Zoning: R5
  • F.A.R (As Built): 1.25 (3.44)
  • Total Buildable: 10,000 SF +/-
  • Cross Streets: SE Corner of Avenue A & E 94th Street
  • Year Built/Renovated: 1929/1988
  • Cap Rate ~ 4.8%
  • Price Per Square Foot ~ $227
  • GRM ~ 13.5
  • The asking price is set at $6,000,000 ~ please speak to exclusive agent for more details

Additional Information

Asset Type

Multifamily

City

Brooklyn

Neighborhood

East Flatbush

Broker

Sadya Liberow

Price

$6,000,000

Map

 

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