1647 8th Ave
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1647 8th Ave
6 Unit Apartment Building $4,995,000 ($832,500/Unit) 4.72% Cap Rate Brooklyn, NY 11215
Investment Highlights
- Prime Prime Location in heart of Park Slope, around the corner from Prospect Park & Subways
- GUT RENOVATED BUILDING WITH SHARED TENANTS LOUNGE & YARD
- 100% FREE MARKET UNITS all INDIVIDUALLY METERED
Executive Summary
4.7% CAP rate on in ace rents, and 5.5% CAP Rate on Pro-Forma rents by year 2
Prime Park Slope around the corner from Prosepct Park and the 15th st stop on the F/G Subway lines
Protected Tax class as well as very low operating expenses especially with tenants paying their own utilities
Prime Free Market with 100% RENT COLLECTIONS
Prime Park Slope around the corner from Prosepct Park and the 15th st stop on the F/G Subway lines
Protected Tax class as well as very low operating expenses especially with tenants paying their own utilities
Prime Free Market with 100% RENT COLLECTIONS
Financial Summary (Actual - 2022) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,995,000 | Property Subtype | Apartment |
| Price Per Unit | $832,500 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.72% | Lot Size | 0.04 AC |
| Sale Conditions | 1031 Exchange | Building Size | 4,920 SF |
| Gross Rent Multiplier | 18.5 | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1923/2018 |
| Price | $4,995,000 |
| Price Per Unit | $832,500 |
| Sale Type | Investment |
| Cap Rate | 4.72% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 18.5 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 4,920 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1923/2018 |
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Storage Space
- Lounge
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | $3,900 | 600 - 700 |
| 1+1 | 1 | $3,250 | 450 - 550 |
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Walk Score ®
Walker's Paradise (97)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Biker's Paradise (90)
PROPERTY TAXES
| Parcel Number | 01113-0005 | Total Assessment | $601,650 (2024) |
| Land Assessment | $9,000 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $592,650 (2024) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
01113-0005
Land Assessment
$9,000 (2024)
Improvements Assessment
$592,650 (2024)
Total Assessment
$601,650 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2022
zoning
| Zoning Code | R5B (Medium density district with a height limit of 40 feet) |
| R5B (Medium density district with a height limit of 40 feet) |
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1647 8th Ave
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