814 44th St Brooklyn, NY 11220-1648

Property Details for 814 44th St

Year built

1931

Lot size

0.09 lot acres

Property size

6,632 SF

Zone code

R6

Property type

Apartment buildings

APN

00742-0011

APU

7420011

Description

This exceptional 9-unit apartment building, located at 814 44th Street in Brooklyn, NY, presents a compelling investment opportunity. Built in 1931, this three-story, 8,100 square foot building sits on a 0.056-acre lot and boasts a coveted R6 zoning designation. The property features a mix of five two-bedroom and four one-bedroom units, all currently occupied at 100% occupancy with rent-stabilized tenants providing a consistent cash flow. The building's strong financial performance is evidenced by a Net Operating Income (NOI) of $101,262, resulting in a 5.00% cap rate based on the asking price of $1,900,000. The gross potential rent is $178,289. This legacy-owned building has been meticulously maintained and features a blend of pre-war charm and modern updates. Original details such as a marble staircase, wrought iron railings, and mosaic floors are complemented by recent improvements including new fire safety doors, windows, and a roof. Additional features include a high-ceiling basement covering the entire footprint, a roof offering NYC skyline views, and a backyard area. The building's prime location between Sunset Park and Borough Park offers easy access to multiple public transportation options, contributing to its consistently high occupancy rate in a community with a low vacancy rate. This is a rare opportunity to acquire a well-maintained, stabilized multifamily property in a rapidly developing area, representing a strong and stable investment for the discerning buyer. The property's APN is 00742-0011.

Location Insight

City

Brooklyn

County

Kings

State

New York

Longitude

-74

Latitude

40.6441

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments