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expiring J-51! 25 E 21st St 12 Unit Apartment Building $3,453,080 CAD ($287,757 CAD/Unit) 7.34% Cap Rate Brooklyn, NY 11226
Investment Highlights
- one block from prospect park
- building fully gut renovated with new C/O in 1990
- expiring j51
Executive Summary
This exceptional 12-unit property underwent a full gut renovation in 1990, completed with all permits and approved plans, converting the building from its original 9-unit configuration to its current, more efficient 12-unit layout.
Structurally, the building is a standout asset. Its generous 50-foot-wide facade spans four stories, allowing for three expansive apartments per floor — a rare and highly desirable layout that is difficult to replicate in the current market.
The building is in impeccable, turn-key condition throughout, reflecting pride of ownership and consistent maintenance. Rent collections are at 100%, underscoring strong tenant quality and stable, reliable cash flow.
The property currently benefits from a J-51 tax abatement, which is set to expire in under two years — an important consideration for prospective buyers evaluating near-term tax exposure and underwriting.
Structurally, the building is a standout asset. Its generous 50-foot-wide facade spans four stories, allowing for three expansive apartments per floor — a rare and highly desirable layout that is difficult to replicate in the current market.
The building is in impeccable, turn-key condition throughout, reflecting pride of ownership and consistent maintenance. Rent collections are at 100%, underscoring strong tenant quality and stable, reliable cash flow.
The property currently benefits from a J-51 tax abatement, which is set to expire in under two years — an important consideration for prospective buyers evaluating near-term tax exposure and underwriting.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$376,287
|
$24.59
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$376,287
|
$24.59
|
| Taxes |
$40,583
|
$2.65
|
| Operating Expenses |
$82,133
|
$5.37
|
| Total Expenses |
$122,717
|
$8.02
|
| Net Operating Income |
$253,571
|
$16.57
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $376,287 |
| Annual Per SF | $24.59 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $376,287 |
| Annual Per SF | $24.59 |
| Taxes (CAD) | |
|---|---|
| Annual | $40,583 |
| Annual Per SF | $2.65 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $82,133 |
| Annual Per SF | $5.37 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $122,717 |
| Annual Per SF | $8.02 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $253,571 |
| Annual Per SF | $16.57 |
Property Facts
| Price | $3,453,080 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $287,757 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 7.34% | Building Size | 15,300 SF |
| No. Units | 12 | Average Occupancy | 90% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built/Renovated | 1931/2021 |
| Zoning | R7A | ||
| Price | $3,453,080 CAD |
| Price Per Unit | $287,757 CAD |
| Sale Type | Investment |
| Cap Rate | 7.34% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 15,300 SF |
| Average Occupancy | 90% |
| No. Stories | 4 |
| Year Built/Renovated | 1931/2021 |
| Zoning | R7A |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | $2,102 CAD | - |
| 3+1 | 6 | $3,580 CAD | - |
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 05063-0021 | Total Assessment | $598,511 CAD (2026) |
| Land Assessment | $154,454 CAD (2026) | Annual Taxes | $40,583 CAD ($2.65 CAD/SF) |
| Improvements Assessment | $444,056 CAD (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
05063-0021
Land Assessment
$154,454 CAD (2026)
Improvements Assessment
$444,056 CAD (2026)
Total Assessment
$598,511 CAD (2026)
Annual Taxes
$40,583 CAD ($2.65 CAD/SF)
Tax Year
2025
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expiring J-51! | 25 E 21st St
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