2249 East 21st Street, & 2113 Avenue V, Brooklyn, New York 11229
78-Unit 2 Mixed-Use Building Portfolio, Sheepshead Bay Brooklyn
Map Content
Location Description
Blocks away from the City line
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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
| Description | No. Units | Avg. Mo. Rent |
| 1 Bedroom 1 Bathroom | 60 | |
| 2 Bedroom 1 Bathroom | 16 | |
Financial Summary
| Scheduled Gross Income | $1786025 |
| Effective Gross Income | $1786025 |
| Operating Expenses | $715 |
| Net Operating Income | $1070608 |
Debt & Equity Information
Major Tenants
| Tenant | SF Occupied | Lease Expired |