455 94Th St Brooklyn, NY 11212
- Apartment buildings
- 26,000 SF
Current Use by Public Records
- Apartment buildings
Property Details for 455 94Th St
- Year built
- 1928
- Property size
- 26,000 SF
- Property type
- Apartment buildings
Description
This exceptional 27-unit apartment building, located at 455 E 95th St in Brooklyn, NY (zip code 11212), presents a compelling investment opportunity. Built in 1928, this four-story, brick structure boasts 26,000 square feet on an 8,000 square foot lot and is zoned R6. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $145,053, translating to a 5.92% cap rate and a pro-forma cap rate of 6.59%. Recent updates include upgrades to electrical and gas meters (between 2016 and 2024) and sections of the roof, minimizing ongoing maintenance requirements. The property's strong cash flow, coupled with its rent-stabilized units, provides a stable and predictable income stream. The asking price is $2,450,000, representing a price per square foot of $94.23 and a price per unit of $90,740.74. This hands-off investment is ideal for those seeking a reliable, passive income source with significant growth potential. The property's solid foundation and attractive features make it an excellent addition to any diversified investment portfolio. This is a stabilized investment with a projected pro-forma NOI of $161,393.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9184
- Latitude
- 40.6559