446 Gates Ave
8 Unit Apartment Building $3,475,000 ($434,375/Unit) 6.20% Cap Rate Brooklyn, NY 11216
INVESTMENT HIGHLIGHTS
- FREE MARKET, NEWLY RENOVATED, INDIVIDUALLY METERED, LOW OPERATING COSTS
EXECUTIVE SUMMARY
100% FREE MARKET
8 FAMILY (CONVERTED FROM 4 FAMILY IN 2019)
LARGE APTS (CAN BE FLEXED INTO 2 BEDS)
PRIME BED STUY
PROTECTED TAX CLASS 2B RESULTING IN LOW TAXES
8 FAMILY (CONVERTED FROM 4 FAMILY IN 2019)
LARGE APTS (CAN BE FLEXED INTO 2 BEDS)
PRIME BED STUY
PROTECTED TAX CLASS 2B RESULTING IN LOW TAXES
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 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
|
PROPERTY FACTS
| Price | $3,475,000 |
| Price Per Unit | $434,375 |
| Sale Type | Investment |
| Cap Rate | 6.20% |
| Gross Rent Multiplier | 12.87 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 4,800 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1931/2019 |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Stainless Steel Appliances
- Garden
- Wheelchair Accessible (Rooms)
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | $2,775 | 550 - 650 |
| 1+1.5 | 1 | $2,800 | 800 - 900 |
| Studios | 1 | $2,650 | 600 - 700 |
1 of 1
Walk Score®
Walker's Paradise (92)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 01813-0036 | Total Assessment | $494,100 |
| Land Assessment | $13,950 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $480,150 | Tax Year | 2024 |
ZONING
| Zoning Code | R6A (Medium density residential zoning district.) |
