422 Bleecker St Brooklyn, NY 11237-5410
Property profile & analytics
422 Bleecker St Brooklyn, NY 11237-5410
- Apartment buildings
- 5,670 SF
- 0.06 lot acres
Property ID
US63-3523340
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 422 Bleecker St
- Year built
- 1931
- Lot size
- 0.06 lot acres
- Property size
- 5,670 SF
- Zone code
- R6
- Property type
- Apartment buildings
- APN
- 03312-0016
- APU
- 33120016
Description
This exceptional 6-unit apartment building, located on a desirable street in prime Bushwick, Brooklyn, presents a compelling investment opportunity. The property boasts a substantial 5,670 square feet across three stories, with each unit benefiting from spacious (27' x 70') dimensions and ample natural light thanks to strategically placed air shafts. Currently fully occupied and rent-stabilized, this building enjoys 100% rent collection, offering immediate cash flow. Legal rents are 10% above preferential rents, providing a clear path to increased income. The building is well-maintained, minimizing the need for immediate capital improvements. Natural tenant turnover presents the potential for owner occupancy in the near future. Situated just one block from Wyckoff Avenue, this property offers convenient access to the Dekalb L and Wyckoff M subway lines, providing a quick 20-minute commute to Manhattan. The asking price of $900,000 represents an attractive $155 per square foot, significantly below the neighborhood average of $288 per square foot. Furthermore, the 2A Tax Class ensures predictable tax increases, limited to a maximum of 8% annually or 30% over five years. With an 8.50% cap rate and a Net Operating Income (NOI) of $65,834, this property offers a strong return on investment. This is a rare opportunity to acquire a well-positioned, cash-flowing multifamily asset in a rapidly appreciating Brooklyn neighborhood.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $740,000
- ML approach
- $760,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,051,000
Market price range: $800k - $1.55M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $1,165,000 Current use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.913
- Latitude
- 40.7031
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$10,245
$8,100
$531,000
$539,100
-
$18,000
$1,180,000
$1,198,000
