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2249 East 21st Street, & 2113 Avenue V, Brooklyn, New York 11229
78-Unit 2 Mixed-Use Building Portfolio, Sheepshead Bay Brooklyn
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Property Description

2 Prime Corners 78-Unit Elevator Multi-Family Buildings consisting of 76 Apartments + 2 Retail Commercial units in a 2-contiguous Building Portfolio. 2249 E 21st Street has 47 rent-stabilized residential units and a 3,000-square-foot daycare facility. 2113 Avenue V has 29 rent-stabilized residential units and a 500-square-foot deli. The buildings were recently upgraded, are fully occupied, and well-maintained. The buildings offer stable income in a sought-after location, have high tenant retention, and strong rental demand. The area provides easy access to public transportation, local amenities, and major thoroughfares.

Property Details

Price:15000000
No. Units:78
Building Size:19000 SF
Price/Unit:$108,333.33
Property Type:Multi-Family
Property Sub-type:Mid/High-Rise, Retail-Commercial (Other)
Property Use Type:Investment
Cap Rate:7.2%
Gross Rent Multiplier:8.4
Occupancy:100%
No. Stories:6
Year Built:1932,
Lot Size:19000 SF

Units

Unit Mix

DescriptionNo. UnitsAvg. Mo. Rent
1 Bedroom 1 Bathroom60
2 Bedroom 1 Bathroom16

Financial Summary

Scheduled Gross Income$1786025
Effective Gross Income$1786025
Operating Expenses$715
Net Operating Income$1070608

Debt & Equity Information

Major Tenants

TenantSF OccupiedLease Expired