3017 Brighton 5Th St Brooklyn, NY 11235
- Residential income homes
- 2,074 SF
- 0.06 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 3017 Brighton 5Th St
- Year built
- 1932
- Lot size
- 0.06 lot acres
- Property size
- 2,074 SF
- Zone code
- R6
- Property type
- Residential income homes
- Property subtype
- Serviced apartments
- APN
- 08675-0065
- APU
- 86750065
Description
This exceptional 14-unit multifamily property, located at 3017 Brighton 5th Street in Brooklyn, NY, presents a compelling investment opportunity. The 2-story building, plus basement, offers 6,480 square feet of space and boasts a projected net operating income (NOI) of $136,043, resulting in a 15% capitalization rate and an 18.38% pro-forma cap rate. Currently zoned R6, this property is ideal for either continued operation as a student housing facility or redevelopment. The asking price is $740,000, translating to $52,857.14 per unit and $356.80 per square foot. Eleven of the fourteen units are currently vacant, offering immediate potential for increased revenue. The building's strong cash flow, combined with its prime Brighton Beach location and flexible zoning, makes it an attractive prospect for savvy investors seeking significant returns. This is an "as is" sale. The property's Class B designation reflects its current condition, presenting an opportunity for value enhancement through renovations or repositioning. The building's size and layout provide a solid foundation for future development, with potential for increased density or conversion to other residential uses, subject to applicable zoning regulations.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9627
- Latitude
- 40.579
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
