1314 Sterling Pl Brooklyn, NY 11213
- Apartment buildings
- 6,006 SF
- 0.07 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 1314 Sterling Pl
- Year built
- 1907
- Lot size
- 0.07 lot acres
- Property size
- 6,006 SF
- Zone code
- R6
- Property type
- Apartment buildings
- APN
- 01377-0018
- APU
- 13770018
Description
This exceptional investment opportunity presents a well-maintained, three-story multifamily building located at 1314 Sterling Place in the desirable Brooklyn, New York neighborhood, zip code 11213. The property boasts six rent-stabilized units, currently enjoying 100% occupancy, generating a substantial annual rental income of $87,152.16. The building itself measures 26 x 77 feet, situated on a generous 26.33 x 120.25-foot lot. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $55,187.16, translating to an attractive 4.41% capitalization rate. Annual expenses are carefully managed and include real estate taxes ($10,765), water frontage fees ($6,200), insurance ($2,800), electricity ($1,200), and oil expenses ($11,000), totaling $31,965. This well-positioned property offers a compelling return on investment in a prime Brooklyn location, making it an ideal addition to any portfolio. The asking price for this exceptional multifamily asset is $1,250,000.
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
- -73.9351
- Latitude
- 40.6715
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
