358 Dean St
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358 Dean St
3 Unit Apartment Building $9,500,000 ($3,166,667/Unit) 4.55% Cap Rate Brooklyn, NY 11217
Investment Highlights
- Prime Location-close to Barclays and Atlantic Terminal
- Great ROI
- High Rise
Executive Summary
Whether you looking for an investment property to maximize with or use the current fixture for an easy rental income or building an occupy your expansive dream townhouse. This is it !!!!
A property with many potentials and all the upside. Right off bustling Fourth Avenue Corridor with all high rises. Cash in on this steal ASAP. Great opportunity to build and own a high rise along 4th avenue corridor. Approved Rezoning allow for high rises 12-15 stories. This is the LAST property on this block for special rezoning class for high rises. Great ROI, maximum returns with Condo units. Close to Barclays and Atlantic Terminal, downtown Brooklyn.
Builders Investors Alert, Approved Zoning Plans allow for a 12-15 story High rise.
4 story building with 2 Duplexes.
Floor Area Ratio (FAR)
Residential FAR 6.02
Commercial FAR 3.4
Facility FAR 6.5
FAR as built 1.36
Allowed usable floor area 12,040
Usable floor area as built 2,720
Unused FAR 9,320
A property with many potentials and all the upside. Right off bustling Fourth Avenue Corridor with all high rises. Cash in on this steal ASAP. Great opportunity to build and own a high rise along 4th avenue corridor. Approved Rezoning allow for high rises 12-15 stories. This is the LAST property on this block for special rezoning class for high rises. Great ROI, maximum returns with Condo units. Close to Barclays and Atlantic Terminal, downtown Brooklyn.
Builders Investors Alert, Approved Zoning Plans allow for a 12-15 story High rise.
4 story building with 2 Duplexes.
Floor Area Ratio (FAR)
Residential FAR 6.02
Commercial FAR 3.4
Facility FAR 6.5
FAR as built 1.36
Allowed usable floor area 12,040
Usable floor area as built 2,720
Unused FAR 9,320
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| 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 (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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 | $9,500,000 | Apartment Style | Low Rise |
| Price Per Unit | $3,166,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 4.55% | Building Size | 2,720 SF |
| Sale Conditions | Redevelopment Project | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1915 |
| Property Subtype | Apartment |
| Price | $9,500,000 |
| Price Per Unit | $3,166,667 |
| Sale Type | Investment |
| Cap Rate | 4.55% |
| Sale Conditions | Redevelopment Project |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 2,720 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1915 |
Unit Amenities
- Kitchen
- Tub/Shower
Site Amenities
- Vintage Building
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $10,000 | 1,800 - 2,200 |
| 3+2 | 2 | $12,000 | 1,800 - 2,000 |
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Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (94)
zoning
| Zoning Code | R8A, C2-4, EC-1 (Special Zoning Class, for a high rise build 12-15 stories) |
| R8A, C2-4, EC-1 (Special Zoning Class, for a high rise build 12-15 stories) |
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358 Dean St
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