393 Bleecker St Brooklyn, NY 11237-5345

Property Details for 393 Bleecker St

Year built

1931

Lot size

0.06 lot acres

Property size

5,400 SF

Zone code

R6

Property type

Apartment buildings

APN

03302-0041

APU

33020041

Description

This exceptional investment opportunity presents a fully renovated, six-unit multifamily building at 393 Bleecker Street in Brooklyn, New York. The property boasts 5,400 square feet situated on a 2,500 square foot lot, zoned R6. Currently operating at a 6.40% capitalization rate, this Class A building offers a compelling return on investment. All six units are currently occupied, resulting in a 100% occupancy rate and a net operating income (NOI) of $172,875. The building's composition includes five free-market units and one rent-stabilized unit, categorized as a Tax Class 2A property. This turn-key property is ideally located in the thriving Bushwick neighborhood, known for its vibrant arts scene, diverse culinary offerings, and convenient access to public transportation. The L and M subway lines (Myrtle-Wyckoff Aves station) and several bus routes are within easy reach. The area also benefits from a high concentration of national retailers and amenities, including Dunkin', McDonald's, and numerous other businesses. This well-maintained building presents a rare opportunity for investors seeking a stable and high-performing asset in a rapidly appreciating market. The asking price for this exceptional property is $2,700,000.

Location Insight

City

Brooklyn

County

Kings

State

New York

Longitude

-73.9143

Latitude

40.7025

CBSA code

35620

CBSA name

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

Property Tax & Assessments