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291 Wyckoff Ave 6 Unit Apartment Building $1,294,650 CAD ($215,775 CAD/Unit) 7.70% Cap Rate Brooklyn, NY 11237
Investment Highlights
- 6-Unit Multifamily Building Spanning 4,350 SF Above Grade
- Two High-End Duplexed Apartments | Extensive Paperwork Backup Available
- Asking: $945,000 | 7.7% Cap Rate | $217/SF
- Prime Bushwick Location | L and M Train Access at Myrtle-Wyckoff Transit Hub
- Tax Class 2A - $15,420 Annual Tax Bill
Executive Summary
291 Wyckoff Avenue offers investors the opportunity to acquire a fully occupied, income-producing multifamily property in the heart of Bushwick - one of Brooklyn’s most active and sought-after rental markets. The building boasts two high-end ground floor duplexes with private backyards, delivering a reliable revenue stream with upside potential.
Spanning approximately 4,350 square feet with an asking price equivalent of $217/SF, this offering is well below replacement costs and is currently achieving a 7.7% cap rate, with the ability to stabilize at an 8.8% pro forma cap rate.
Located in an established retail corridor just moments from the Myrtle-Wyckoff transit hub, the asset is ideally situated near multiple subway lines and neighborhood amenities - making it highly attractive to both residential and commercial tenants. Additionally, the property includes approximately 1,363 square feet of unused air rights, offering future development or expansion potential within an R6, C1-3 zoning district.
Spanning approximately 4,350 square feet with an asking price equivalent of $217/SF, this offering is well below replacement costs and is currently achieving a 7.7% cap rate, with the ability to stabilize at an 8.8% pro forma cap rate.
Located in an established retail corridor just moments from the Myrtle-Wyckoff transit hub, the asset is ideally situated near multiple subway lines and neighborhood amenities - making it highly attractive to both residential and commercial tenants. Additionally, the property includes approximately 1,363 square feet of unused air rights, offering future development or expansion potential within an R6, C1-3 zoning district.
Property Facts
| Price | $1,294,650 CAD | Property Subtype | Apartment |
| Price Per Unit | $215,775 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.70% | Lot Size | 0.06 AC |
| Gross Rent Multiplier | 7.7 | Building Size | 4,350 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1931 |
| Zoning | R6 - A medium-density residential district in NYC, widely mapped in Brooklyn, Queens, and the Bronx, designed for6- to 8-story apartment buildings. | ||
| Price | $1,294,650 CAD |
| Price Per Unit | $215,775 CAD |
| Sale Type | Investment |
| Cap Rate | 7.70% |
| Gross Rent Multiplier | 7.7 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 4,350 SF |
| No. Stories | 3 |
| Year Built | 1931 |
| Zoning | R6 - A medium-density residential district in NYC, widely mapped in Brooklyn, Queens, and the Bronx, designed for6- to 8-story apartment buildings. |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 03329-0005 | Improvements Assessment | $387,659 CAD |
| Land Assessment | $89,747 CAD | Total Assessment | $477,406 CAD |
Property Taxes
Parcel Number
03329-0005
Land Assessment
$89,747 CAD
Improvements Assessment
$387,659 CAD
Total Assessment
$477,406 CAD
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291 Wyckoff Ave
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