2069 E 12th St
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2069 E 12th St
19 Unit Apartment Building $3,950,000 ($207,895/Unit) 5.92% Cap Rate Brooklyn, NY 11229
Executive Summary
Mint condition 19 unit apartment building on East 12th Street between Ave T and Ave U in prime Homecrest area. The Property has 60 feet of frontage on E 12th Street and is built 60 feet by 78 feet on a 60 foot by 105 foot R5/C1-3 lot. The Property has 4 floors and comprised of ten one-bedroom and nine two bedroom apartments with Gross Operating Income of $349,834 (plus $24000) and Net Operating Income of $233,980 annually. The Property offers an investor an exceptional opportunity to own a building in the one of most convinient and growing neighborhoods in South Brooklyn. In general, this section of Homecrest is in constantly high demand by apartment tenants this has resulted in a low supply of available rental apartments and reliable value preservation
Data Room Click Here to Access
- Operating and Financials
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$349,834
|
$24.59
|
| Other Income |
$24,000
|
$1.69
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$373,834
|
$26.27
|
| Taxes |
$41,462
|
$2.91
|
| Operating Expenses |
$98,392
|
$6.92
|
| Total Expenses |
$139,854
|
$9.83
|
| Net Operating Income |
$233,980
|
$16.45
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $349,834 |
| Annual Per SF | $24.59 |
| Other Income | |
|---|---|
| Annual | $24,000 |
| Annual Per SF | $1.69 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $373,834 |
| Annual Per SF | $26.27 |
| Taxes | |
|---|---|
| Annual | $41,462 |
| Annual Per SF | $2.91 |
| Operating Expenses | |
|---|---|
| Annual | $98,392 |
| Annual Per SF | $6.92 |
| Total Expenses | |
|---|---|
| Annual | $139,854 |
| Annual Per SF | $9.83 |
| Net Operating Income | |
|---|---|
| Annual | $233,980 |
| Annual Per SF | $16.45 |
Property Facts
| Price | $3,950,000 | Apartment Style | Mid Rise |
| Price Per Unit | $207,895 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.92% | Building Size | 14,228 SF |
| No. Units | 19 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1927 |
| Property Subtype | Apartment |
| Price | $3,950,000 |
| Price Per Unit | $207,895 |
| Sale Type | Investment |
| Cap Rate | 5.92% |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 14,228 SF |
| No. Stories | 4 |
| Year Built | 1927 |
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Walk Score ®
Walker's Paradise (97)
Transit Score ®
Excellent Transit (85)
Bike Score ®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 07316-0050 | Total Assessment | $331,650 (2024) |
| Land Assessment | $64,800 (2024) | Annual Taxes | $41,462 ($2.91/SF) |
| Improvements Assessment | $266,850 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
07316-0050
Land Assessment
$64,800 (2024)
Improvements Assessment
$266,850 (2024)
Total Assessment
$331,650 (2024)
Annual Taxes
$41,462 ($2.91/SF)
Tax Year
2023
zoning
| Zoning Code | R5 (C1-3/R5) |
| R5 (C1-3/R5) |
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2069 E 12th St
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