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    1371 Greene Ave Brooklyn, NY 11237

    Sponsored
    For Sale
    $1,520,000

    Prime Bushwick location, 6-unit building, strong income.

    Property size:
    4,275 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    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 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

    HighLights

    • 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).
    • Low taxes, high buildable FAR, strong rent roll, significant upside potential with two below‑market units.
    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
    -73.9174547
    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).
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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
    1371 Greene Ave Brooklyn, NY 11237
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