Multifamily
260 Cornelia Street
260 Cornelia Street, Brooklyn, NY 11221
Listing Price: $2,495,000
Investment Overview
Marcus & Millichap is pleased to present 260 Cornelia Street, a six-unit multifamily property located in the heart of Bushwick, Brooklyn. This well-maintained asset consists of six fully occupied fair-market two-bedroom apartments and offers investors immediate cash flow with significant upside through natural rent growth and lease turnover.
The property contains approximately 5,025 square feet and is currently generating a strong 6.6% cap rate at the asking price of $2,495,000. All six apartments are free-market units, providing ownership with maximum operational flexibility and the ability to capture market rents without regulatory restrictions. Current rents average approximately $3,017 per month, with a clear path to achieve pro forma rents averaging $3,350 per month, increasing annual revenue by over $24,000 and driving a projected 7.4% cap rate.
The building features six spacious two-bedroom apartments, each approximately 711 square feet, with select units offering desirable amenities including backyard access and skylights. The apartments have been renovated with modern finishes, updated kitchens, in-unit washer/dryers, split-system air conditioning, and contemporary flooring, making them highly attractive to today's renter demographic.
260 Cornelia Street
Investment Highlights
- 260 Cornelia Street, built in 1907, is a 6-unit multifamily asset, sitting on a 25' x100' Lot, approx. 5,025 SF.
- Tax Class: 2A | Zoning: R6 | 100% Fair Market
- 260 Cornelia Street benefits from its proximity to the Myrtle-Wyckoff transportation hub, providing convenient access to both the L and M subway lines.
Listing Price: $2,495,000
Investment Highlights
- 260 Cornelia Street, built in 1907, is a 6-unit multifamily asset, sitting on a 25' x100' Lot, approx. 5,025 SF.
- Tax Class: 2A | Zoning: R6 | 100% Fair Market
- 260 Cornelia Street benefits from its proximity to the Myrtle-Wyckoff transportation hub, providing convenient access to both the L and M subway lines.
Investment Overview
Marcus & Millichap is pleased to present 260 Cornelia Street, a six-unit multifamily property located in the heart of Bushwick, Brooklyn. This well-maintained asset consists of six fully occupied fair-market two-bedroom apartments and offers investors immediate cash flow with significant upside through natural rent growth and lease turnover. The property contains approximately 5,025 square feet and is currently generating a strong 6.6% cap rate at the asking price of $2,495,000. All six apartments are free-market units, providing ownership with maximum operational flexibility and the ability to capture market rents without regulatory restrictions. Current rents average approximately $3,017 per month, with a clear path to achieve pro forma rents averaging $3,350 per month, increasing annual revenue by over $24,000 and driving a projected 7.4% cap rate. The building features six spacious two-bedroom apartments, each approximately 711 square feet, with select units offering desirable amenities including backyard access and skylights. The apartments have been renovated with modern finishes, updated kitchens, in-unit washer/dryers, split-system air conditioning, and contemporary flooring, making them highly attractive to today's renter demographic.
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