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238 Gates Ave
Brooklyn, NY 11238
Multifamily Property For Sale · 5 Units
PROPERTY FACTS
| No. Units | 5 | Lot Size | 0.04 AC |
| Property Type | Multifamily | Building Size | 4,174 SF |
| Property Subtype | Apartment | Average Occupancy | 96% |
| Apartment Style | Mid Rise | No. Stories | 5 |
| Building Class | C | Year Built | 1930 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 4,174 SF |
| Average Occupancy | 96% |
| No. Stories | 5 |
| Year Built | 1930 |
About 238 Gates Ave , Brooklyn, NY 11238
TerraCRG has been retained to exclusively represent ownership in the sale of 238 Gates Avenue, a five-unit, free market multifamily building in Bedford-Stuyvesant, Brooklyn. Located between Classon and Franklin Avenues, 238 Gates Avenue is a five-story building consisting of 4,174 SF. The property has undergone a full gut renovation with condo quality finishes and a finished basement. With one unit per floor, the unit mix consists of a three-bedroom duplex with a private backyard, a two-bedroom unit with a patio, a two-bedroom with a balcony, a two-bedroom, and a one-bedroom. At asking price, the property has 5.2% cap rate. The property has an annual rent of ~$143,628 and an NOI of $121,644. The building is located on the Clinton Hill/Bed-Stuy border and is close by Bedford Avenue, Fulton Street, and Franklin Avenue retail corridors. Some prominent retailers include neighborhood favorites Oxaca Taqueria, Dynaco, Pilar Cuban Eatery, Playground Coffee Shop, Home Frite, Shipwreck Seafood Boutique, Stonefruit Espresso + Kitchen, Saraghina, Peaches and more
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 2 | - | - |
| 3+1 | 1 | - | - |
PROPERTY TAXES
| Parcel Number | 01985-0027 | Improvements Assessment | $161,460 |
| Land Assessment | $10,800 | Total Assessment | $172,260 |
PROPERTY TAXES
zoning
| Zoning Code | R6,Brooklyn |
| R6,Brooklyn |
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