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321 Menahan St 6 Unit Apartment Building $1,789,489 CAD ($298,248 CAD/Unit) 6.60% Cap Rate Brooklyn, NY 11237
Investment Highlights
- 6-Unit Multifamily Building Spanning 4,875 SF Above Grade | 100% RS
- Thoroughly Maintained with Two High-End 2-Bedroom Apartments
- Tax Class 2A | $12,176 Annual Property Taxes
- Prime Residential Bushwick Location | Myrtle-Wyckoff Transit Hub
- Extensive IAI Paperwork Backup Available
- Asking $1,300,000 | 6.6% Cap Rate | $267/SF
Executive Summary
321 Menahan Street presents a compelling opportunity to purchase a well-maintained 6-unit multifamily building in the heart of Bushwick, one of Brooklyn’s most active and high-demand rental markets. Spanning 4,875 square feet above grade, the property is offered at an attractive $267/SF basis, well below today's replacement cost, and delivers a strong 6.6% in-place cap rate at asking.
The asset has been consistently maintained and thoughtfully upgraded, including the renovation of two units to high-end 2-bedroom finishes, offering meaningful and financeable stabilized income. Situated just steps from the Myrtle–Wyckoff transit hub, the property provides access to both the L and M subway lines, offering seamless transportation to Manhattan and North Brooklyn. The surrounding neighborhood continues to boast strong demand, population growth, an influx of new retail - such as Whole Foods - and institutional capital.
With protected annual taxes of $12,176 (Tax Class 2A) and a compliance-clean asset, 321 Menahan Street represents a rare chance to acquire strong cash flow with a meaningful entry basis in one of Brooklyn’s most dynamic submarkets.
The asset has been consistently maintained and thoughtfully upgraded, including the renovation of two units to high-end 2-bedroom finishes, offering meaningful and financeable stabilized income. Situated just steps from the Myrtle–Wyckoff transit hub, the property provides access to both the L and M subway lines, offering seamless transportation to Manhattan and North Brooklyn. The surrounding neighborhood continues to boast strong demand, population growth, an influx of new retail - such as Whole Foods - and institutional capital.
With protected annual taxes of $12,176 (Tax Class 2A) and a compliance-clean asset, 321 Menahan Street represents a rare chance to acquire strong cash flow with a meaningful entry basis in one of Brooklyn’s most dynamic submarkets.
Data Room Click Here to Access
- Operating and Financials
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$194,457
|
$39.89
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$194,457
|
$39.89
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$65,739
|
$13.48
|
| Net Operating Income |
$128,718
|
$26.40
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $194,457 |
| Annual Per SF | $39.89 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $194,457 |
| Annual Per SF | $39.89 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $65,739 |
| Annual Per SF | $13.48 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $128,718 |
| Annual Per SF | $26.40 |
Property Facts
| Price | $1,789,489 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $298,248 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.60% | Building Size | 4,875 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1931/2019 |
| Zoning | R6 - R6 Zoning is a medium density residential zoning district. It has multifamily buildings that can range from walk up townhouses to taller apartment bui | ||
| Price | $1,789,489 CAD |
| Price Per Unit | $298,248 CAD |
| Sale Type | Investment |
| Cap Rate | 6.60% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 4,875 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1931/2019 |
| Zoning | R6 - R6 Zoning is a medium density residential zoning district. It has multifamily buildings that can range from walk up townhouses to taller apartment bui |
Amenities
Unit Amenities
- Washer/Dryer
- Eat-in Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | - | - |
| 1+1 | 4 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 03310-0054 | Improvements Assessment | $704,921 CAD (2025) |
| Land Assessment | $7,433 CAD (2025) | Total Assessment | $712,354 CAD (2025) |
Property Taxes
Parcel Number
03310-0054
Land Assessment
$7,433 CAD (2025)
Improvements Assessment
$704,921 CAD (2025)
Total Assessment
$712,354 CAD (2025)
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321 Menahan St
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