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~10.3% Cap Rate ($87/SF) Two 6-Unit Buildings | East New York

$995,000

456-460 Grant Avenue, New York, NY 11208

Active
Last Updated: 04/29/2025

10.3

Cap Rate

11,424 sqft

Lot Area

Details:
Cap Rate:    10.3%
Lot Area:    11,424 sqft
Units:    12
Floors:    3
Floor:    3
Highlights:
  • ~10.3% Cap Rate
  • $87/SF
  • $83K/unit
  • Tax Class Protection (Tax Class 2A)
  • Minimal Arrears
  • Close Proximity to Subway
Description:

TerraCRG has been exclusively hired to represent ownership in the Deed in Lieu of Foreclosure sale of 456 & 460 Grant Avenue in the East New York section of Brooklyn. Each building is 28 ft x 68 ft and contain 6 units each. In total, the buildings consist of 12 residential units and ~11,424 SF. The buildings are located 1.5 blocks from the A subway station on Grant Avenue. The buildings are located in very close proximity to the J and Z subway stations on Cresent Street.

The buildings have an in-place rent roll of $198,215/year and have lower expenses as the buildings are under Tax Class 2A – tax protection.

At the asking price of $995,000, the property is offered at ~10.3% Cap Rate, $87/SF, $83K/Unit and 5 GRM.

Map:
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