141 Tompkins Ave Brooklyn, NY 11206
- Commercial real estate
- 2,451 SF
Current Use by Public Records
- Commercial real estate
Property Details for 141 Tompkins Ave
- Year built
- 1931
- Property size
- 2,451 SF
- Property type
- Commercial real estate
Description
This exceptional three-story, 2,451 square foot apartment building at 141 Tompkins Avenue in Bedford-Stuyvesant, Brooklyn presents a compelling investment opportunity. Built in 1931, this property sits on a 1,740 square foot lot (20.42 x 85 feet) and boasts a building footprint of 20.42 x 40 feet. Currently configured as a six-family building with five one-bedroom units and a studio, the property offers a current rent roll of $104,000 with month-to-month tenants. The landlord covers all utilities. Zoned R6A, this property offers significant redevelopment potential. It could be legally converted into a four-unit building with a retail space, or potentially expanded to nine units total by utilizing unused air rights, including two inclusionary housing units and seven free market apartments. The property is delivered "as is" with existing tenants. Its prime location offers easy access to the J, M, and Z subway lines at Myrtle Avenue, making it ideal for commuters. A large backyard adds to the property's appeal. The current cap rate is 4.77%, with a potential cap rate of 10.79%. The asking price is $1,620,000.
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
- -73.9458937
- Latitude
- 40.6945914
