Fully Leased Multifamily, Tax Class 2A | 253 Stanhope St
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Fully Leased Multifamily, Tax Class 2A 253 Stanhope St
8 Unit Apartment Building $2,850,000 ($356,250/Unit) 6.45% Cap Rate Brooklyn, NY 11237
Investment Highlights
- Fully Leased Walkup Multifamily: 6 Free-Market Units, 1 Rent-Stabilized Unit
- Tax Class 2A: Assessed value can rise no more than 8%/Year or 30% over five years
- Unit Breakdown: 2 studio units, 2 1-bedroom units, 3 2-bedroom units, 1 1-bedroom unit
Executive Summary
RIPCO Real Estate has been retained on an exclusive basis to arrange for the sale of 253 Stanhope Street, Bushwick, NY 11237. Highlights of the property are listed below:
Fully Leased Walkup Multifamily: 7 Free-Market Units, 1 Rent-Stabilized Unit
The renovated apartments were fully gutted and rebuilt, featuring new flooring, framing, drywall, doors, upgraded electrical and plumbing, custom kitchens, and modern bathrooms. Central heating, air conditioning, new furnaces, split systems, and new windows were installed. Common areas saw roof replacement, sump pumps, storage closets, and hallway updates. A full list of renovations available upon request
Unit Breakdown:
- (2) studios on ground floor with access to washer/dryer in basement
- (2) 1-bedroom/1.5 bath duplex units on ground floor with in-unit washer/dryer and rec room/den on cellar level
- (3) 2-bedroom/1-bath units on 2nd/3rd floor with in-unit washer/dryer
- (1) 1-bedroom/1-bath rent stabilized unit on 3rd floor with two demised dens/sleeping areas (no windows)
Tax Class 2A: Assessed value can rise no more than 8%/Year or 30% over five years
Heart of Bushwick: Four blocks to Maria Hernandez Park, one block away from the Wyckoff Heights Medical Center, and a short walk to the bustling restaurant, bar, night club scene along Wyckoff Avenue
Fully Leased Walkup Multifamily: 7 Free-Market Units, 1 Rent-Stabilized Unit
The renovated apartments were fully gutted and rebuilt, featuring new flooring, framing, drywall, doors, upgraded electrical and plumbing, custom kitchens, and modern bathrooms. Central heating, air conditioning, new furnaces, split systems, and new windows were installed. Common areas saw roof replacement, sump pumps, storage closets, and hallway updates. A full list of renovations available upon request
Unit Breakdown:
- (2) studios on ground floor with access to washer/dryer in basement
- (2) 1-bedroom/1.5 bath duplex units on ground floor with in-unit washer/dryer and rec room/den on cellar level
- (3) 2-bedroom/1-bath units on 2nd/3rd floor with in-unit washer/dryer
- (1) 1-bedroom/1-bath rent stabilized unit on 3rd floor with two demised dens/sleeping areas (no windows)
Tax Class 2A: Assessed value can rise no more than 8%/Year or 30% over five years
Heart of Bushwick: Four blocks to Maria Hernandez Park, one block away from the Wyckoff Heights Medical Center, and a short walk to the bustling restaurant, bar, night club scene along Wyckoff Avenue
Property Facts
| Price | $2,850,000 | Apartment Style | Low Rise |
| Price Per Unit | $356,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.45% | Building Size | 4,875 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1931/2017 |
| Price | $2,850,000 |
| Price Per Unit | $356,250 |
| Sale Type | Investment |
| Cap Rate | 6.45% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 4,875 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1931/2017 |
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Walk Score ®
Walker's Paradise (98)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Biker's Paradise (96)
PROPERTY TAXES
| Parcel Number | 03258-0044 | Improvements Assessment | $400,950 |
| Land Assessment | $61,650 | Total Assessment | $462,600 |
PROPERTY TAXES
Parcel Number
03258-0044
Land Assessment
$61,650
Improvements Assessment
$400,950
Total Assessment
$462,600
zoning
| Zoning Code | R6 |
| R6 |
Contacts
-
Brian Whelan -
Stephen Preuss -
Mitchel Flaherty -
Kevin Schmitz -
Andreas Efthymiou -
Andrew LeoGrande -
Christian Allimonos -
Jonathan Auerbach -
RIPCO Real Estate
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Fully Leased Multifamily, Tax Class 2A | 253 Stanhope St
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