475 E Eighth St | Brooklyn, NY 11218
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475 E Eighth St
Brooklyn, NY 11218
Multifamily Property For Sale · 12 Units
Executive Summary
Introducing 475 E 8th St an incredible investment opportunity for the right buyer. 475 E 8th is a huge 17,318sqFt twelve family + 1 commercial built in 2007 & fully renovated in 2018. All units feature white oak floors, large kitchens with stainless steel appliances with ceaserstone countertops and cherry cabinetry. Marble bathrooms with Kohler fixtures and deep soaking tubs. Just a few short blocks to the best Ditmas Park has to offer. 475 E 8th also has a new elevator & top of the line turn key equipment through out the building!
475 E 8th is 35×50 on a 40×100 lot. There are 10 two bedroom apartments and 2 one bedroom apartments plus one 500sqFt commercial unit in the bldg. Additionally the building has six parking spots beneath the complex with 12 paid storage lockers for all tenants. The current rent roll is 396,000 monthly + 1,860 monthly for the parking & storage. There is a 15 year tax abatement on the property currently & expenses are very low. The current NOI is 335,000 with a projected 2023 NOI of 358,000.
475 E 8th is 35×50 on a 40×100 lot. There are 10 two bedroom apartments and 2 one bedroom apartments plus one 500sqFt commercial unit in the bldg. Additionally the building has six parking spots beneath the complex with 12 paid storage lockers for all tenants. The current rent roll is 396,000 monthly + 1,860 monthly for the parking & storage. There is a 15 year tax abatement on the property currently & expenses are very low. The current NOI is 335,000 with a projected 2023 NOI of 358,000.
PROPERTY FACTS
Unit Amenities
- Heating
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | - |
PROPERTY TAXES
| Parcel Number | 05392-0085 | Improvements Assessment | $726,750 |
| Land Assessment | $81,000 | Total Assessment | $807,750 |
PROPERTY TAXES
Parcel Number
05392-0085
Land Assessment
$81,000
Improvements Assessment
$726,750
Total Assessment
$807,750
zoning
| Zoning Code | R7B (Medium-Density Apartment House District with Lower Parking Requirements.) |
| R7B (Medium-Density Apartment House District with Lower Parking Requirements.) |
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