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    1319 Newkirk Ave Brooklyn, NY 11230

    Sponsored
    For Sale
    $2,800,000

    20-Unit Brick Building, High Occupancy

    Property size:
    18,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a well-maintained 20-unit apartment building situated in the desirable Ditmas Park neighborhood of Brooklyn, New York, at 1319 Newkirk Avenue, zip code 11230. The property, classified as a Class B multifamily building, boasts a total of 18,400 square feet. The building comprises a mix of ten one-bedroom and ten two-bedroom apartments, currently achieving 100% occupancy and generating an annual rental income of $264,000. Recent capital improvements include the installation of new windows, a new roof, and a new gas boiler, ensuring efficient operation and minimizing future maintenance expenses. The building's brick construction contributes to its durability and aesthetic appeal. This property is offered at an asking price of $2,800,000. Its prime location on Newkirk Avenue in Ditmas Park offers strong potential for continued rental income and future appreciation. The building's solid financial performance and recent upgrades make it an attractive investment for discerning buyers seeking a stable and profitable addition to their portfolio. Detailed financial information is available upon request. This is a rare opportunity to acquire a well-managed, income-producing asset in a highly sought-after Brooklyn neighborhood.

    Property Features for 1319 Newkirk Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    18,400 SF
    Class
    B

    HighLights

    • $2,800,000 asking price.
    • Multifamily apartment building in Brooklyn, NY.
    • Class B property with 18,400 square feet.
    • 20‑unit building (10 one‑bedroom, 10 two‑bedroom units).
    • 100% occupancy with $264,000 annual rent roll.
    • Recent capital improvements including new windows, roof, and gas boiler.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -73.9646138
    Latitude
    40.6351799

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    FAQs

    What type of property is this?
    Multifamily property - 20-Unit Brick Building, High Occupancy
    Where is this multifamily property located?
    The property is located at 1319 Newkirk Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: $2,800,000 asking price.; Multifamily apartment building in Brooklyn, NY.; Class B property with 18,400 square feet.
    Request Owner's contact information
    1319 Newkirk Ave Brooklyn, NY 11230
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    Brooklyn, NY 11230
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1319 Newkirk Ave Brooklyn, NY 11230
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