102 Pierrepont St
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102 Pierrepont St
6 Unit Apartment Building $5,799,000 ($966,500/Unit) 4.29% Cap Rate Brooklyn, NY 11201
Investment Highlights
- This property is located next to the retail strip on Montague Street, as well as blocks away from the beautiful Brooklyn
Executive Summary
This six story, six unit walk up townhouse is located between Henry and Clinton Streets on the south side of Pierrepont Street. The garden and parlor levels contain a large duplex apartment with garden access. The third level consists of two separate one bedroom apartments. The three remaining levels each contain separate two bedroom apartments. This property is located next to the retail strip on Montague Street, as well as blocks away from the beautiful Brooklyn Heights Promenade.
Rent Roll:
Apt - Rent - Lease Exp.
Duplex- $9,000.00(FM) - Vacant
3F- $3,500.00(FM) - 10/31/24
3R- $3,150.00(FM) - 8/31/24
4th Flr- $5,600.00(FM) - 9/30/24
5th Flr- $688.06(RC) -
6th Flr- $5,200.00(FM) - 8/31/24
Monthly Income: $27,138.06
Yearly Income: $325,656.72
Block / Lot: 243 / 34
Lot Size: 20' x 100' sq. ft.
Stories: 6
Bldg. Dimensions: 20' x 55' sq. ft.
Gross sq. ft.: 6,665 sq. ft.
Annual Expenses:
Repairs: $2,500.
Utilities: $600.
Fuel & Oil: 8,500.
Insurance: $6,000.
Water & Sewer: $3,530.
Real Estate Taxes: $55,890.00
Rent Roll:
Apt - Rent - Lease Exp.
Duplex- $9,000.00(FM) - Vacant
3F- $3,500.00(FM) - 10/31/24
3R- $3,150.00(FM) - 8/31/24
4th Flr- $5,600.00(FM) - 9/30/24
5th Flr- $688.06(RC) -
6th Flr- $5,200.00(FM) - 8/31/24
Monthly Income: $27,138.06
Yearly Income: $325,656.72
Block / Lot: 243 / 34
Lot Size: 20' x 100' sq. ft.
Stories: 6
Bldg. Dimensions: 20' x 55' sq. ft.
Gross sq. ft.: 6,665 sq. ft.
Annual Expenses:
Repairs: $2,500.
Utilities: $600.
Fuel & Oil: 8,500.
Insurance: $6,000.
Water & Sewer: $3,530.
Real Estate Taxes: $55,890.00
Financial Summary (Actual - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$296,856
|
$44.98
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$296,856
|
$44.98
|
| Taxes |
$55,890
|
$8.47
|
| Operating Expenses |
$12,450
|
$1.89
|
| Total Expenses |
$68,340
|
$10.35
|
| Net Operating Income |
$228,516
|
$34.62
|
Financial Summary (Actual - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $296,856 |
| Annual Per SF | $44.98 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $296,856 |
| Annual Per SF | $44.98 |
| Taxes | |
|---|---|
| Annual | $55,890 |
| Annual Per SF | $8.47 |
| Operating Expenses | |
|---|---|
| Annual | $12,450 |
| Annual Per SF | $1.89 |
| Total Expenses | |
|---|---|
| Annual | $68,340 |
| Annual Per SF | $10.35 |
| Net Operating Income | |
|---|---|
| Annual | $228,516 |
| Annual Per SF | $34.62 |
Property Facts
| Price | $5,799,000 | Apartment Style | Mid Rise |
| Price Per Unit | $966,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 4.29% | Building Size | 6,600 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 17% |
| No. Units | 6 | No. Stories | 6 |
| Property Type | Multifamily | Year Built | 1860 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $5,799,000 |
| Price Per Unit | $966,500 |
| Sale Type | Investment |
| Cap Rate | 4.29% |
| Sale Conditions | 1031 Exchange |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 6,600 SF |
| Average Occupancy | 17% |
| No. Stories | 6 |
| Year Built | 1860 |
| Opportunity Zone |
Yes |
Unit Amenities
- Fireplace
- Hardwood Floors
- Stainless Steel Appliances
- Yard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 3 | - | - |
| 3+2 | 1 | - | - |
1 of 1
Walk Score ®
Walker's Paradise (99)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Biker's Paradise (91)
PROPERTY TAXES
| Parcel Number | 00243-0034 | Total Assessment | $1,332,900 (2024) |
| Land Assessment | $22,950 (2024) | Annual Taxes | $55,890 ($8.47/SF) |
| Improvements Assessment | $1,309,950 (2024) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
00243-0034
Land Assessment
$22,950 (2024)
Improvements Assessment
$1,309,950 (2024)
Total Assessment
$1,332,900 (2024)
Annual Taxes
$55,890 ($8.47/SF)
Tax Year
2022
zoning
| Zoning Code | R7-1 (R7 - Medium-density apartment house district with lower parking requirements) |
| R7-1 (R7 - Medium-density apartment house district with lower parking requirements) |
-
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102 Pierrepont St
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