166 Atkins Ave Brooklyn, NY 11208
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Prime Brooklyn location, 3-unit building, high potential.
Property size:
2,760 SFProperty Features for 166 Atkins Ave
General Information
- Property type
- Multifamily properties
- Square Feet
- 2,760 SF
- Class
- B
Building Details
- Year Built/Renovated
- 1910/2020
- Buildings
- 1
- Stories
- 3
- Units
- 3
Listing Agency: Brown Harris Stevens Listing Agent: Kervin Vales
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This three-family building at 166 Atkins Avenue in Brooklyn, New York, presents a compelling investment opportunity. The property, built in 1910 and renovated in 2020, boasts a total of 2,760 square feet across three stories on a 2,000 square foot lot. The building is currently 100% occupied, generating a Net Operating Income (NOI) of $94,540, with a pro-forma NOI of $103,540. The asking price is $1,250,000, representing a current cap rate of 7.56% and a pro-forma cap rate of 8.28%. The property is zoned R5B (1.35) with a height limit of 33 feet, and includes 860 square feet of air rights. The building comprises three units: a two-bedroom garden apartment on the ground floor, and two additional units, one with three bedrooms and one with four bedrooms, on the upper floors. The units feature nice wood floors, spacious bedrooms, and well-maintained common areas. The ground floor unit includes access to a backyard, as well as the gas boiler and water heater room. The building is currently generating $9,000 in monthly income ($108,000 annually) through a City FHEPS program. The property's location offers excellent residential exposure, situated on a block primarily consisting of two and three-family homes, and just one block from the A and C subway lines at Shepherd and Pitkins Avenues. This property offers a strong value-add potential for both owner-users and investors.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial real estate
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.879126583951
- Latitude
- 40.675074784893
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FAQs
What type of property is this?
Multifamily property - Prime Brooklyn location, 3-unit building, high potential.
Where is this multifamily property located?
The property is located at 166 Atkins Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Live/work opportunity: Ground floor apartment for owner occupancy with rental potential for upper two floors.; Excellent investment: Three-family home with potential for individual unit rentals; each unit features its own boiler and water heater.; High residential visibility: Situated on a street with strong residential presence, predominantly two- and three-family homes.