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Multifamily For Sale

$1,500,000

518 East 51st Street, Brooklyn, NY 11203

Active
Last Updated: 04/03/2025

7.33

Cap Rate

109,889

NOI

Details:
Cap Rate:    7.33%
NOI:    $109,889
Building Size:    5,712 sqft
Units:    6
Price Per Sqft:    $263
Highlights:
  • Excellent Light & Air: Side and rear air shafts provide units with substantial light and air, allowing for efficient unit layouts.
  • Protected Tax Class: 2A Tax Class limits tax increase to no more than 8% a year or 30% over 5 years.
  • Great Retail Nearby: Close proximity to the Utica Avenue and Church Avenue retail corridors.
  • Parking / Curb Cut: Driveway allows for two parking spots, offering the potential for additional revenue.
  • Return / Basis: Opportunity for an investor to pick up a cash flowing asset at a low basis for over a 7.25% cap rate.
  • Public Transportation: Located within a few blocks of the B46 and B35 bus lines, with direct access to Williamsburg, Downtown Brooklyn, the Rockaways, and Jamaica, Queens.
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Documents:
Title
Offering Memorandum
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