164 Dikeman St, Unit 8 Brooklyn, NY 11231-1107
- Apartment buildings
- 5,548 SF
- 0.06 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 164 Dikeman St
- Year built
- 1931
- Lot size
- 0.06 lot acres
- Property size
- 5,548 SF
- Zone code
- M2-1
- Property type
- Apartment buildings
- APN
- 00574-0037
- APU
- 5740037
Description
This 8-unit multifamily building, located at 164 Dikeman Street in Brooklyn's Red Hook neighborhood, presents a compelling investment opportunity. Built in 1931, the property boasts 5,600 square feet on a 25' x 56' lot extending 100 feet deep, and is zoned M2-I. The building comprises eight two-bedroom apartments, five of which are free-market units recently renovated and currently generating below-market rents, offering significant upside potential. These renovated units include in-unit washer/dryers. The building's electrical system and hot water heater are approximately five years old. Adding to the property's income stream is a Verizon cell tower lease with six years remaining. Conveniently located near the Carroll Street (F, G) train station, providing easy access to Manhattan and other Brooklyn areas. The asking price is $2,350,000, representing $293,750 per unit and $419.64 per square foot. This property offers a blend of stable income and significant value-add potential in a rapidly developing Brooklyn neighborhood.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $200,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $175,000
Market price range: $175k - $326k
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Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -74.0152
- Latitude
- 40.6782
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
