Skip to main content

Mixed-Use

1381 Myrtle Avenue

1381 Myrtle Ave, Brooklyn, NY 11237

Listing Price: $18,495,000

Cap Rate
4.20%
Number of Units
27
Occupancy
100.0%
Price/Unit
$685,000

Investment Overview

Rare Cash Flowing, 100 Free Market, Elevator Building in Bushwick w/ significant residential upside 1381 Myrtle is an extremely rare offering as there are almost little to no 100 free market, loft style elevator buildings in the surging neighborhood. The property has been gut renovated and the apartments feature in unit laundry, 10 ceilings, hardwood flooring, extra large windows, stainless steel appliances, and top of the line finishes. There is significant “meat on the bone” for investors as the rent PSF in 1381 Myrtle currently average approximately 38 PSF where similar units in elevator buildings in Bushwick are easily achieving north of 50 PSF Half of the apartments (lines A, C E) feature wide open floorplan layouts that allow for simple bedroom addition as a strategy to further increase income

Investment Highlights

  • 100% Free-Market Loft Style Elevator Building
  • 24 Renovated Units w/ 10'+ Ceilings and Extra Large Windows
  • Neighborhood Staple Grocery Store Retail Tenant
  • Two Cell Towers Supplement Income
  • Immediate Upside in Rent Roll in Bushwick's Booming Rental Market

Exclusively Listed By

Mixed-Use

1381 Myrtle Avenue

Listing Price: $18,495,000

Cap Rate
4.20%
Number of Units
27
Occupancy
100.0%
Price/Unit
$685,000

Investment Highlights

  • 100% Free-Market Loft Style Elevator Building
  • 24 Renovated Units w/ 10'+ Ceilings and Extra Large Windows
  • Neighborhood Staple Grocery Store Retail Tenant
  • Two Cell Towers Supplement Income
  • Immediate Upside in Rent Roll in Bushwick's Booming Rental Market

Investment Overview

Rare Cash Flowing, 100 Free Market, Elevator Building in Bushwick w/ significant residential upside 1381 Myrtle is an extremely rare offering as there are almost little to no 100 free market, loft style elevator buildings in the surging neighborhood. The property has been gut renovated and the apartments feature in unit laundry, 10 ceilings, hardwood flooring, extra large windows, stainless steel appliances, and top of the line finishes. There is significant “meat on the bone” for investors as the rent PSF in 1381 Myrtle currently average approximately 38 PSF where similar units in elevator buildings in Bushwick are easily achieving north of 50 PSF Half of the apartments (lines A, C E) feature wide open floorplan layouts that allow for simple bedroom addition as a strategy to further increase income

Exclusively Listed By

MM Texture Background
MM Textured Background Lower