1178 Gates Ave Brooklyn, NY 11221-6563
- Apartment buildings
- 6,892 SF
- 0.07 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 1178 Gates Ave
- Year built
- 1994
- Construction
- FRAME
- Lot size
- 0.07 lot acres
- Property size
- 6,892 SF
- Zone code
- R6
- Property type
- Apartment buildings
- APN
- 03340-0110
- APU
- 33400110
Description
This exceptional Class A, eight-unit apartment building at 1178 Gates Avenue in Brooklyn, New York, presents a compelling investment opportunity. Boasting 6,897 square feet of net rentable space, this new construction multifamily property offers a strong 5.00% capitalization rate and an asking price of $5,995,000. The building features eight free-market residential units spread across four floors, including a finished basement. First-floor units are duplexed, extending into the finished basement. A shared backyard and communal lounge enhance tenant appeal. Individual unit meters for heating, cooling, and hot water minimize operating expenses. Most units include private balconies. Modern kitchens are equipped with stainless steel appliances, including dishwashers and microwaves, and sleek modern bathrooms are featured in each unit. A video intercom system and shared laundry room (generating additional income) add to the property's value. Located in the vibrant Bushwick neighborhood, this property benefits from its prime location and desirable amenities, making it an attractive investment for discerning buyers. The building's zip code is 11221, and it is situated in Kings County.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9195
- Latitude
- 40.6917
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
