91 Macon St 6 Unit Apartment Building $2,900,000 ($483,333/Unit) 5.97% Cap Rate Brooklyn, NY 11216
EXECUTIVE SUMMARY
This four story walk-up residential building is an all free market rental building that consists of 6-residential apartments. The building is located in the Bedford Stuyvesant section in Brooklyn on 91 Macon St between Nostrand Ave & Verona Pl. The Building is 1-block away from the A & C Nostrand Avenue train station.
The Property consists of 1-Studio 1-Bathroom, 1-Bedroom 1-Bathroom+Garden Yard, 1-Bedroom 1 Bathroom, 2 Bedroom 1-Bathroom, 3-Bedroom 1-Bathroom+private terrace, 3-Bedroom 2-Bathroom, and a Rooftop Lounge area for all tenants. The property is well maintained with a full building renovation in 2018, However, there is still room for kitchen and bathroom upgrades. Apartment features consist of dishwasher, microwave, stainless steel appliances, wood flooring, and marble kitchen countertops. There is a storage room in the basement for tenants convenience. The heating system is operated by a gas boiler, and all units have separate meters for electricity.
Building Highlights
Fully Renovated in 2018
Apts still can be upgraded cosmetically depending on new owners preferences
Upside rents
100% Occupied
Perfect for a 1031 Exchange
Cash flow Property
Building Amenities
Walk-up
Private outdoor space & Garden Area Apts
Dishwasher in each unit
Rooftop Lounge Area
The Property consists of 1-Studio 1-Bathroom, 1-Bedroom 1-Bathroom+Garden Yard, 1-Bedroom 1 Bathroom, 2 Bedroom 1-Bathroom, 3-Bedroom 1-Bathroom+private terrace, 3-Bedroom 2-Bathroom, and a Rooftop Lounge area for all tenants. The property is well maintained with a full building renovation in 2018, However, there is still room for kitchen and bathroom upgrades. Apartment features consist of dishwasher, microwave, stainless steel appliances, wood flooring, and marble kitchen countertops. There is a storage room in the basement for tenants convenience. The heating system is operated by a gas boiler, and all units have separate meters for electricity.
Building Highlights
Fully Renovated in 2018
Apts still can be upgraded cosmetically depending on new owners preferences
Upside rents
100% Occupied
Perfect for a 1031 Exchange
Cash flow Property
Building Amenities
Walk-up
Private outdoor space & Garden Area Apts
Dishwasher in each unit
Rooftop Lounge Area
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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 | $2,900,000 |
| Price Per Unit | $483,333 |
| Sale Type | Investment |
| Cap Rate | 5.97% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 14.11 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.04 AC |
| Building Size | 3,588 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1891/2015 |
UNIT AMENITIES
- Dishwasher
- Microwave
- Granite Countertops
- Stainless Steel Appliances
- Yard
- Deck
- Garden
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
1 of 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 01844-0067 | Total Assessment | $522,180 (2024) |
| Land Assessment | $4,950 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $517,230 (2024) | Tax Year | 2023 |
ZONING
| Zoning Code | R6, Brooklyn |
