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8794 15Th Ave Brooklyn, NY 11228

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For Sale
$3,198,000

20-unit apartment building in Bath Beach, Brooklyn.

Lot size:
0.13 Acres

Property Features for 8794 15Th Ave

General Information

Property type
Multi Family
Standard status
Active
Lot size
0.13 Acres

Building Details

Year built
1916

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Listing Contact
Karla Ng Mok
Source: Elliman

Listing Agency: Realty First Residential Listing Agent: Karla Ng Mok

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

Brooklyn Multifamily Investment Opportunity

Located in the Bath Beach neighborhood of Brooklyn, this multifamily property features 20 apartments within a building measuring 60 x 78 feet, situated on a 60 x 97 foot lot. The building provides 18,720 square feet of living space. The unit mix includes three 3-bedroom units (6 rooms), nine 2-bedroom units (5 rooms), and eight 1-bedroom units (4 rooms). Many of the units have been updated. The property generates a gross annual income of $297,840, and 10 leases are ready for renewal with potential rent increases. The building's cap rate is approximately 6.25%. A resident superintendent maintains the apartments. Additional features include a clean basement, updated flashing on the roof, and most mechanical equipment updated within the last 10 years, including a brand new hot water tank. The property is located on a tree-lined street, near 86th Street, restaurants, convenience stores, supermarkets, banks, shopping, Dyker Park, Dyker Golf Course, bus stations, and the Belt Parkway.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
Brooklyn
County
Kings
State
New York
Longitude
-74.013834
Latitude
40.607653

FAQs

What type of property is this?
Apartment building - 20-unit apartment building in Bath Beach, Brooklyn.
Where is this apartment building located?
The property is located at 8794 15Th Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,198,000.
What are key features of this property?
This property features: - High-income generating 20-family brick building with an attractive 6.25% Cap Rate.; - Gross annual income of $297,840 with potential for increased rent through 10 lease renewals.; - Located in the desirable Bath Beach neighborhood of Brooklyn.
More about this property
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