245 Martense St
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245 Martense St
8 Unit Apartment Building $1,500,000 ($187,500/Unit) Brooklyn, NY 11226
Executive Summary
Newmark has been retained on an exclusive basis to arrange for the sale of 245 Martense Street located in Flatbush, Brooklyn. The Property is a 25’ wide, tax class 2B protected, and comprised of eight (8) apartments across 7,260 SF. The Property is a 100% rent stabilized, 4-story, multifamily building, conveniently located between Rogers & Nostrand Avenues - just 1-block to the 2 & 3 Trains at Church Ave Station.
245 Martense Street is fully occupied but offers significant upside as there is a large delta between the collected income and legal rent amount. Upon vacancy/turnover, investors will be able to raise the collected rents on the six (6) units that are currently paying a preferential rent.
245 Martense Street is fully occupied but offers significant upside as there is a large delta between the collected income and legal rent amount. Upon vacancy/turnover, investors will be able to raise the collected rents on the six (6) units that are currently paying a preferential rent.
Property Facts
| Price | $1,500,000 | Building Class | C |
| Price Per Unit | $187,500 | Lot Size | 0.06 AC |
| Sale Type | Investment | Building Size | 7,260 SF |
| No. Units | 8 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1998 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid Rise |
| Price | $1,500,000 |
| Price Per Unit | $187,500 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 7,260 SF |
| No. Stories | 4 |
| Year Built | 1998 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walking/Biking Trails
- Public Transportation
- Walk-Up
- Smoke Detector
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Walk Score ®
Walker's Paradise (95)
Transit Score ®
Rider's Paradise (100)
PROPERTY TAXES
| Parcel Number | 05088-0063 | Improvements Assessment | $388,800 |
| Land Assessment | $9,000 | Total Assessment | $397,800 |
PROPERTY TAXES
Parcel Number
05088-0063
Land Assessment
$9,000
Improvements Assessment
$388,800
Total Assessment
$397,800
zoning
| Zoning Code | R6 |
| R6 |
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245 Martense St
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