2724 Pitkin Ave Brooklyn, NY 11208
- Apartment buildings
- 8,145 SF
Current Use by Public Records
- Apartment buildings
Property Details for 2724 Pitkin Ave
- Property size
- 8,145 SF
- Property type
- Apartment buildings
Description
This exceptional Brooklyn apartment building at 2724 Pitkin Avenue presents a compelling investment opportunity. Boasting 8,145 square feet of net rentable space, the property is offered at $3,500,000, translating to a price per square foot of $430. The building enjoys a strong 7.21% capitalization rate, generating a substantial net operating income (NOI) of $252,502. Its strategic location offers unparalleled transportation accessibility, situated just 50 feet from the Euclid Avenue station (A & C trains), providing easy access to Brooklyn, Queens, and Manhattan. The building's design incorporates air shafts on both sides, ensuring ample natural light and air circulation throughout the units, contributing to efficient layouts. Furthermore, the property is entirely free-market, presenting significant potential for future appreciation as the neighborhood continues to improve. Recent renovations and meticulous maintenance have resulted in a building that requires no immediate capital improvements, minimizing upfront expenses for the new owner. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a rapidly developing Brooklyn neighborhood. The property's strong cash flow, prime location, and potential for future growth make it an ideal addition to any investment portfolio.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.8717
- Latitude
- 40.6754
