518 E 51st St
Brooklyn, NY 11203
East Flatbush
HIGHLIGHTS
- Excellent Light & Air: Side and rear air shafts provide units with substantial light and air, allowing for efficient unit layouts.
- Protected Tax Class: 2A Tax Class limits tax increase to no more than 8% a year or 30% over 5 years.
- Great Retail Nearby: Close proximity to the Utica Avenue and Church Avenue retail corridors.
- Parking / Curb Cut: Driveway allows for two parking spots, offering the potential for additional revenue.
- Return / Basis: Opportunity for an investor to pick up a cash flowing asset at a low basis for over a 7.25% cap rate.
FOR SALE DETAILS
PRICE
$1,500,000 USD
PRICE/SF
$263 USD /SF
# OF UNITS
6
PRICE/UNIT
$250,000
CAP RATE
7.33%
% LEASED
83%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
518 E 51ST ST
PROPERTY TYPE
Multi-Family
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
3
YEAR BUILT
1920
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.07 AC
LAND SF
3,000 SF
ZONING
R5
APN/PARCEL ID
04722-0027
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313-402-0917
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313-402-0917
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