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8623 Flatlands Ave 13 Unit Apartment Building $7,315,378 CAD ($562,721 CAD/Unit) 7.08% Cap Rate Brooklyn, NY 11236
Investment Highlights
- 35-year 421-a tax exemption
- 13 units: 12 residential, 1 commercial
Executive Summary
Add the largest mixed-use property currently available in 11236 to your portfolio. A newly constructed (2024) elevator building featuring 13 units: 12 residential, 1 commercial, an 8-car garage, and a 35-year 421-a tax exemption.
This 4-story building is home to 8 free-market units and 4 affordable units, along with 2,223SF of retail space, private parking, laundry, and accessory and bicycle storage. The residential rent roll is strong at $31,722/month ($380,664/year). There are 8 parking spaces that can rent for $150/space ($14,400/year). Owner pays electric (approximately $600/month for common areas and the elevator) and water ($16,746.78 for 2025). Insurance and maintenance estimated at $25,000/year.
This property offers a rare combination of new construction, multiple income streams, and long-term tax advantages in Brooklyn.
This 4-story building is home to 8 free-market units and 4 affordable units, along with 2,223SF of retail space, private parking, laundry, and accessory and bicycle storage. The residential rent roll is strong at $31,722/month ($380,664/year). There are 8 parking spaces that can rent for $150/space ($14,400/year). Owner pays electric (approximately $600/month for common areas and the elevator) and water ($16,746.78 for 2025). Insurance and maintenance estimated at $25,000/year.
This property offers a rare combination of new construction, multiple income streams, and long-term tax advantages in Brooklyn.
Property Facts
Amenities
Site Amenities
- Laundry Facilities
- On-Site Retail
- Roof Terrace
- Storage Space
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 08007-0001 | Improvements Assessment | $1,330,963 CAD |
| Land Assessment | $233,459 CAD | Total Assessment | $1,564,421 CAD |
Property Taxes
Parcel Number
08007-0001
Land Assessment
$233,459 CAD
Improvements Assessment
$1,330,963 CAD
Total Assessment
$1,564,421 CAD
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8623 Flatlands Ave
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