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.

Location Insight

City

Brooklyn

County

Kings

State

New York

Longitude

-73.8717

Latitude

40.6754