278 Albany Ave - Apartments FOR SALE


Brooklyn, NY 11213- Crown Heights
$2,200,000 USD
718-663-2639
278 Albany Ave, Brooklyn, NY for Sale
$2,200,000 USD
Apartments - FOR SALE
1/10
null | 6.51% Cap Rate

278 Albany Ave
Brooklyn, NY 11213
Crown Heights


HIGHLIGHTS

  • 1) Newly Renovated Apartments, with washer/dryer in unit, new hardwood floors and appliances.
  • 2) Value-Add Opportunity (1 Vacancy) Through Lease-Up
  • 4) Located in the Heart of Crown Heights, 1 Block off the 3 Train at Kingston Ave

OVERVIEW

RIPCO Real Estate has been retained on an exclusive basis to arrange for the sale of 278 Albany Avenue in Crown Heights, Brooklyn. This four-story brick building is situated on the corner of St Johns Place and Albany Avenue. The building features six (6) rent-stabilized apartments above three (3) neighborhood retailers. The corner retail is occupied by the Crown Heights Career Hub, complemented by a Juicery and a barber shop along Albany Avenue. Two of the apartments were recently gut renovated, and one apartment will be delivered vacant. Apartment renovations include: washer/dryer, hardwood floors, modern appliances, updated bathrooms, and more. 278 Albany Avenue is a short walk to many restaurants along Kingston Avenue, as well as Brower Park & St Johns Park, and the Brooklyn Children's Museum. The building is also just two blocks away from Kingston Avenue subway station servicing the 2, 3, 4, and 5 trains. Additionally, it's less than 2 miles from Prospect Park and the Brooklyn Botanical Gardens. Please reach out to the exclusive brokers with any questions about the opportunity.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$233 USD /SF

# OF UNITS

9

PRICE/UNIT

$244,444

CAP RATE

6.51%

% LEASED

88%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

278 Albany Avenue, Crown Heights - Value Add

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

R6. C2-3

APN/PARCEL ID

01258-0042

ASK ABOUT THIS PROPERTY

Stephen PreussRipco Real EstateMore Info
718-663-2639

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Stephen PreussRipco Real EstateMore Info
718-663-2639

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.