1371 Greene Ave Brooklyn, NY 11237
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Prime Bushwick location, 6-unit building, strong income.
Property size:
4,275 SFProperty Features for 1371 Greene Ave
General Information
- Property type
- Multifamily properties
- Square Feet
- 4,275 SF
Building Details
- Year Built/Renovated
- 1910/2018
- Buildings
- 1
- Stories
- 3
- Units
- 6
Listing Agency: Brick & Mortar LLC Listing Agent: Jason Larusso
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a three-story, six-unit apartment building located at 1371 Greene Avenue in Brooklyn, New York, 11237. Built in 1910 and renovated in 2018, this property boasts 4,275 square feet of space, including a full basement. The building sits on a desirable 25' x 82.23' lot, offering a sizable 630 square foot rear garden. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $78,537, representing a 5.20% cap rate. Pro-forma NOI is projected at $91,337, indicating a 6.40% pro-forma cap rate. Each of the six units is priced at $253,333.33, with the entire building listed at $1,520,000. The property benefits from its prime location in Bushwick, steps from the L and M subway lines and Maria Hernandez Park. Low taxes and a buildable floor area ratio (FAR) further enhance its investment potential. This well-maintained building offers a solid return on investment with upside potential through market rent adjustments. The property is free and clear of any ground lease.
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
- -73.9174547
- Latitude
- 40.7004342
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FAQs
What type of property is this?
Multifamily property - Prime Bushwick location, 6-unit building, strong income.
Where is this multifamily property located?
The property is located at 1371 Greene Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,520,000.
What are key features of this property?
This property features: Prime Bushwick 6-unit multifamily building, steps from L & M trains and Maria Hernandez Park.; 25' x 82.23' lot, 4,275 sq ft building with full basement.; Excellent condition, six income-producing units, sizable rear garden (630 sq ft).
