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413 57 Street 413 57th St 12 Unit Apartment Building $7,312,887 CAD ($609,407 CAD/Unit) 6.60% Cap Rate Brooklyn, NY 11220
Investment Highlights
- 6.6% CAP RATE
- GREAT LOCATION
- NEW BUILT BUILDING
Executive Summary
Attention property investors—this is a rare opportunity you don’t want to miss.
This newly constructed 7-story residential building features 12 units (2 units per floor) and is not subject to rent control, offering maximum income flexibility and long-term upside.
Each floor consists of:
• Front unit: 1-bedroom
• Rear unit: 2-bedroom
The property spans approximately 9,000 square feet and is built with concrete and steel construction, ensuring durability, superior soundproofing, and minimal maintenance costs.
Financial Highlights:
• Current Net Operating Income (NOI): $349,906 annually
• Cap Rate: 6.6%
• Additional upside: Potential T-Mobile rooftop lease for antenna installation, projected to generate an extra $50,000 annually
Key Features:
• Tenants pay all utilities, including heat and hot water
• Low operating expenses
• Strong, stable income stream with additional upside
Location:
Situated in an excellent, high-demand area, just minutes to Manhattan via the N train, and adjacent to Park Slope, one of Brooklyn’s most desirable
This newly constructed 7-story residential building features 12 units (2 units per floor) and is not subject to rent control, offering maximum income flexibility and long-term upside.
Each floor consists of:
• Front unit: 1-bedroom
• Rear unit: 2-bedroom
The property spans approximately 9,000 square feet and is built with concrete and steel construction, ensuring durability, superior soundproofing, and minimal maintenance costs.
Financial Highlights:
• Current Net Operating Income (NOI): $349,906 annually
• Cap Rate: 6.6%
• Additional upside: Potential T-Mobile rooftop lease for antenna installation, projected to generate an extra $50,000 annually
Key Features:
• Tenants pay all utilities, including heat and hot water
• Low operating expenses
• Strong, stable income stream with additional upside
Location:
Situated in an excellent, high-demand area, just minutes to Manhattan via the N train, and adjacent to Park Slope, one of Brooklyn’s most desirable
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$536,642
|
$58.08
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$536,642
|
$58.08
|
| Taxes |
$3,311
|
$0.36
|
| Operating Expenses |
$41,532
|
$4.49
|
| Total Expenses |
$44,843
|
$4.85
|
| Net Operating Income |
$491,799
|
$53.22
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $536,642 |
| Annual Per SF | $58.08 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $536,642 |
| Annual Per SF | $58.08 |
| Taxes (CAD) | |
|---|---|
| Annual | $3,311 |
| Annual Per SF | $0.36 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $41,532 |
| Annual Per SF | $4.49 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $44,843 |
| Annual Per SF | $4.85 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $491,799 |
| Annual Per SF | $53.22 |
Property Facts
| Price | $7,312,887 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $609,407 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 6.60% | Building Size | 9,240 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 7 |
| Property Type | Multifamily | Year Built | 2018 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R7 - medium-density apartment house districts (often R7-1, R7A, or R7B) allowing 6- to 14-story buildings with a Floor Area Ratio (FAR) usually between 3.44 and 4.0. | ||
| Price | $7,312,887 CAD |
| Price Per Unit | $609,407 CAD |
| Sale Type | Investment |
| Cap Rate | 6.60% |
| Sale Condition | 1031 Exchange |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.05 AC |
| Building Size | 9,240 SF |
| Average Occupancy | 100% |
| No. Stories | 7 |
| Year Built | 2018 |
| Opportunity Zone |
Yes |
| Zoning | R7 - medium-density apartment house districts (often R7-1, R7A, or R7B) allowing 6- to 14-story buildings with a Floor Area Ratio (FAR) usually between 3.44 and 4.0. |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
Site Amenities
- 24 Hour Access
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | 578 |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 00839-0071 | Total Assessment | $1,286,391 CAD (2026) |
| Land Assessment | $61,638 CAD (2026) | Annual Taxes | $3,311 CAD ($0.36 CAD/SF) |
| Improvements Assessment | $1,224,753 CAD (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
00839-0071
Land Assessment
$61,638 CAD (2026)
Improvements Assessment
$1,224,753 CAD (2026)
Total Assessment
$1,286,391 CAD (2026)
Annual Taxes
$3,311 CAD ($0.36 CAD/SF)
Tax Year
2025
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413 57 Street | 413 57th St
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