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55 Stanhope St
Brooklyn, NY 11221
Multifamily Property For Sale
·
8 Units
Investment Highlights
- Not Subject to Good Cause Eviction
- Protected 2B Tax Class
- Free Market Apartments
Executive Summary
Investment Property Realty Group (IPRG) has been exclusively retained to sell 55 Stanhope Street. The subject property is located between Evergreen Avenue and Central Avenue in the Bushwick neighborhood of Brooklyn.
Built in 2016 as a protected 2B tax class new building, the property offers 8 free market apartments that are not subject to Good Cause Eviction. Each unit has separate utilities including heat/hot water and wall mounted AC units. The basement contains laundry machines for use by tenants. This investment provides strong, consistent cash flow with the opportunity to increase under market rents for long term appreciation.
The property is located within walking distance to the J, Z, M and L subway lines for easy access to Manhattan. There is also an abundance of strong retail along Knickerbocker Avenue, Myrtle Avenue and Broadway.
Built in 2016 as a protected 2B tax class new building, the property offers 8 free market apartments that are not subject to Good Cause Eviction. Each unit has separate utilities including heat/hot water and wall mounted AC units. The basement contains laundry machines for use by tenants. This investment provides strong, consistent cash flow with the opportunity to increase under market rents for long term appreciation.
The property is located within walking distance to the J, Z, M and L subway lines for easy access to Manhattan. There is also an abundance of strong retail along Knickerbocker Avenue, Myrtle Avenue and Broadway.
Property Facts
| Price Per Unit | $712,950 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 5.76% | Lot Size | 0.06 AC |
| Gross Rent Multiplier | 12.55 | Building Size | 6,103 SF |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2014 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R6 | ||
| Price Per Unit | $712,950 CAD |
| Sale Type | Investment |
| Cap Rate | 5.76% |
| Gross Rent Multiplier | 12.55 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 6,103 SF |
| No. Stories | 3 |
| Year Built | 2014 |
| Opportunity Zone |
Yes |
| Zoning | R6 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+1.5 | 1 | - | 1,000 - 1,100 |
| 1+1 | 2 | - | 500 |
| 2+1 | 4 | - | 500 - 600 |
| 1+2 | 1 | - | 600 - 700 |
Property Taxes
| Parcel Number | 03254-0071 | Improvements Assessment | $526,100 CAD |
| Land Assessment | $62,040 CAD | Total Assessment | $588,141 CAD |
Property Taxes
Parcel Number
03254-0071
Land Assessment
$62,040 CAD
Improvements Assessment
$526,100 CAD
Total Assessment
$588,141 CAD
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