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518 Meeker Ave

10 Unit Apartment Building $3,950,000 ($395,000/Unit) Brooklyn, NY 11222

Investment Highlights

  • This property is near McCarren Park

Executive Summary

Delivered 90% Vacant. Elevator building will be delivered 90% vacant excluding unit 4A. If rented, rents will reflect the legal rents of 2023 and be subject to yearly RGB increases of 2.75%.
Attractive Basis & Potential Condo Play. The asset is being offered at $408 PSF and is positioned for a condo conversion. Sell out prices in the neighborhood average $1,100 PSF.

Property Facts

Price $3,950,000
Price Per Unit $395,000
Sale Type Investment
Sale Conditions Redevelopment Project
No. Units 10
Property Type Multifamily
Property Subtype Apartment
Apartment Style Mid Rise
Building Class B
Lot Size 0.07 AC
Building Size 9,682 SF
Average Occupancy 0%
No. Stories 6
Year Built 2005

Unit Amenities

  • Air Conditioning
  • Balcony
  • Dishwasher
  • Storage Space
  • Washer/Dryer
  • Washer/Dryer Hookup
  • Heating
  • Kitchen
  • Granite Countertops
  • Hardwood Floors
  • Sprinkler System
  • Stainless Steel Appliances
  • Tub/Shower
  • Intercom
  • Wheelchair Accessible (Rooms)

Site Amenities

  • Laundry Facilities
  • Security System
  • Storage Space
  • Elevator
  • Public Transportation
Walk Score ®
Walker's Paradise (96)
Transit Score ®
Excellent Transit (86)
Bike Score ®
Very Bikeable (85)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
02827-0131
Land Assessment
$40,500
Improvements Assessment
$1,206,450
Total Assessment
$1,246,950

zoning

Zoning Code R6 (R6 - Medium density residential district)
R6 (R6 - Medium density residential district)
  • Listing ID: 33365696

  • Date on Market: 10/1/2024

  • Last Updated:

  • Address: 518 Meeker Ave, Brooklyn, NY 11222

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