6 Unit Walk-Up Building in Prime Bushwick | FOR SALE
$2,000,000
96 Starr Street, Brooklyn, NY 11237
For Sale
Multifamily
Active
Last Updated: 10/03/2024
6.48
Cap Rate
129,572
NOI
Details:
Cap Rate: 6.48%
NOI: $129,572
Building Size: 4,350 sqft
Lot Area: 2,500 sqft
Units: 6
Zoning: R6
Floors: 3
Highlights:
- 3-story walk-up building with 6 apartments; 4 free-market units and 2 rent stabilized units
- All units are 2BR/1B - both first floor units are duplexed to the cellar and include private outdoor space
- Protected Tax Class 2A - limits property tax increases year over year
- All units are individually metered and tenants are responsible for their expenses; the building also has storage and laundry in the basement generating around $500/month of additional income
- Opportunity to invest in a building with low turnover and high demand keeping vacancy rates low while rents grow year over year
- The building was renovated in 2012 and has been immaculately maintained with top of line finishes allowing for minimal capital expenditures for investors
- Located in a thriving pocket of Bushwick just a half block from Maria Hernandez Park, a neighborhood seeing immense growth and development, offering many restaurants, bodegas, shops & experiences throughout
- Walking distance to the DeKalb Avenue Subway Station (L) and the Knickerbocker Avenue Subway Station (M)
- Both the L & M lines provide quick access to all five boroughs - under 35 minutes for transport to Grand Central 42nd Street
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