1342 Dekalb Ave Brooklyn, NY 11221-3350

This exceptional mixed-use property at 1342 Dekalb Avenue in Brooklyn, NY, presents a compelling investment opportunity. The building, constructed in 2005, boasts 9,425 square feet on a 3,481 square foot lot and features eleven units: three 2-bedroom/1-bathroom apartments and six 1-bedroom/1-bathroom apartments, all rent-stabilized. Two ground-floor commercial spaces add to the income stream. The building is 100% occupied as of July 1, 2024, with a current NOI of $273,616 and a pro-forma NOI of $289,401, yielding a 7.2% cap rate and a pro-forma cap rate of 7.62%. The asking price is $3,800,000, translating to $403.18 per square foot and $345,454.55 per unit. The property benefits from a 421a tax abatement extending through 2033. Built with handsome brick, block, and steel construction, it includes fireproofing and sprinklers throughout. A new roof was installed in 2024. The building is well-maintained, with continuous upgrades, and has a history of near-zero vacancies. It is situated on a quiet, tree-lined block in Bushwick, between Central and Myrtle Avenues, zoned R6, C2-3. This is a rare opportunity to acquire a well-performing, stable asset in a highly desirable Brooklyn location. The property is classified as a Class B building with four stories.