2156 Cortelyou Rd, Unit 13 Brooklyn, NY 11226-6124

Property Details for 2156 Cortelyou Rd

Year built

1912

Lot size

0.07 lot acres

Property size

8,641 SF

Zone code

R6A

Property type

Apartment buildings

APN

05165-0028

APU

51650028

Description

This exceptional four-story apartment building at 2156 Cortelyou Road in Brooklyn, New York, presents a compelling investment opportunity. The property boasts 8,641 square feet on a 2,865 square foot lot, zoned R6A. Currently featuring 13 units, including 12 free-market and 1 rent-stabilized apartment, this building offers significant upside potential. The current Net Operating Income (NOI) is $203,602, yielding a 7.27% cap rate, while the pro-forma NOI is projected at $257,840, resulting in an 8.72% pro-forma cap rate. Each unit is generously sized, featuring spacious bedrooms, living/kitchen areas, and large windows. The asking price is $2,800,000, or $215,385 per unit, and the price per square foot is $324. The building benefits from its prime location, within walking distance of the Q, 2, and 5 subway lines, as well as the B41 and B49 bus routes. The high foot traffic area at the intersection of Cortelyou Road and Flatbush Avenue offers easy access to numerous restaurants, medical offices, and retail stores. The increasing neighborhood popularity and consistent annual rent growth further enhance the investment appeal of this property. This is a rare opportunity to acquire a well-maintained multifamily building in a thriving Brooklyn neighborhood.

Location Insight

City

Brooklyn

County

Kings

State

New York

Longitude

-73.9568

Latitude

40.644

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments