382 Kosciuszko St Brooklyn, NY 11221-2096

Property Details for 382 Kosciuszko St

Year built

1931

Lot size

0.05 lot acres

Property size

3,000 SF

Zone code

R6B

Property type

Apartment buildings

APN

01605-0011

APU

16050011

Description

This exceptional 5-unit apartment building at 382 Kosciuszko Street in Brooklyn, New York, presents a compelling investment opportunity. Boasting a substantial 2,858 square feet of net rentable space, the property commands an asking price of $1,950,000 and generates a strong net operating income (NOI) of $120,279, translating to an attractive 6.17% capitalization rate. The building benefits from a fully free-market status, allowing for future rent increases to capitalize on neighborhood improvements. Significant upside potential exists through approximately 1,150 square feet of unused air rights, offering possibilities for expansion, development, or sale. Tax burdens are mitigated by the property's 2A tax class, limiting annual tax increases to a maximum of 8% or 30% over five years. Conveniently located within 6-8 blocks of the J, M, Z subway lines at Myrtle Avenue and Kosciuszko Street, and the G train at Bedford/Nostrand, the building enjoys excellent transportation accessibility. The efficiently sized units appeal to students and young professionals, contributing to low operating costs. Furthermore, the building has undergone complete renovation and is meticulously maintained, eliminating the need for immediate capital improvements. This turnkey investment is ideal for discerning buyers seeking a stable, high-performing asset in a thriving Brooklyn neighborhood. The property is located in zip code 11221, Kings County.

Location Insight

City

Brooklyn

County

Kings

State

New York

Longitude

-73.9389

Latitude

40.6918

CBSA code

35620

CBSA name

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

Property Tax & Assessments