24-Unit Multifamily Building For
8820 Avenue J Brooklyn, NY 11236
For Sale
$11,500,000
24-unit building with 2-bed/2-bath units; tenants pay all utilities.
Property Size22,035 SF
Price / SF$521.90
Days on Market1921
Property Features for 8820 Avenue J
General Information
- Standard status
- Active
- Size
- 22,035 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 2015
Listing Agency:
Blue Key Real Estate Brokerage
(718) 921-2280
Listed By:
Reginald Brannen · License #40BR1116315
(718) 921-2280
Source:
Compass
Added: Apr 22, 2021
Changed: Jul 10
Last Checked: Jul 24 at 2:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Blue Key Real Estate Brokerage
Investment Insights
Based on property information with market context.
This is a 24-unit multifamily building where each unit features 2 bedrooms and 2 bathrooms. Tenants are responsible for covering all utility costs, with the exception of water. The building does not use gas. A legal super unit is present. An additional room with a half bath is located in the basement and can be used as an accessory office. The building does not have a boiler, compactor room, or elevator, but it does include additional storage rooms. The property benefits from a 421A tax abatement cap. The property size is 22035 square feet.
Key Highlights
- 24 units, each with 2 beds/2 baths.
- Tenants pay all utilities except water.
- 421A tax abatement cap.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.25M | $56.64 |
| − Vacancy | −$25.0k | −$1.13 |
| EGI | $1.22M | $55.51 |
| − OpEx | −$550.4k | −$24.98 |
| NOI | $672.7k | $30.53 |
22,035 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$9.61M
$8.41M – $11.21M
NOI $672,706 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$18.24M
$15.96M – $21.29M
NOI $1,277,149 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
B&B Group Management ...
Business Service Center
FAQs
What type of property is this?
Apartment building - 24-unit building with 2-bed/2-bath units; tenants pay all utilities.
Where is this apartment building located?
The property is located at 8820 Avenue J Brooklyn, NY.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: 24 units, each with 2 beds/2 baths.; Tenants pay all utilities except water.; 421A tax abatement cap.
