Multifamily

496 11th Street

496 11th St, Brooklyn, NY 11231

Listing Price: $3,000,000

Cap Rate
3.62%
Number of Units
8
GRM
17.25
Occupancy
97.0%
Price/Unit
$375,000
Price/Gross SF
$483.87
Gross SF
6,200

Investment Overview

Marcus & Millichap has been exclusively retained on the sale of 496 11th Street, a four-story multifamily building in between 7th Avenue and 8th Avenue in the Park Slope section of Brooklyn, New York. The subject property is built 26.33 x 70 ft. and sits on a 26.33 x 94.33 ft. R6A, C2-4 zoned lot (Block: 1096 Lot: 8).

The existing building totals approximately 7,250 SF and consists of eight apartments. The property has two apartments on each floor and consists of five free-market units, two rent-stabilized units and one rent-controlled apartment.

496 11th Street is located two blocks away from the 7th Avenue "F" and "G" subway station and four blocks from the 9th Street R Train. The property is also two blocks from Prospect Park. The building is located within the Park Slope Extension Historic District.

The purchaser can capitalize on the close proximity to public transportation, the 7th Avenue retail corridor, and Prospect Park. The purchaser has the opportunity to grow the rent roll by increasing the below market rents.

Investment Highlights

  • Four-Story Multifamily Building Totaling 7,250 SF
  • Consists of Eight Apartments with Five Free-Market Units and 3 Rent-Regulated Units
  • Over 26-Feet Wide Allowing for Redevelopment Opportunities
  • Park Slope Residential Rents Reaching $55-65 PSF
  • Located Two Blocks Away from the 7th Avenue "F" and "G" Subway Station
  • Adjacent to the 7th Avenue Retail Corridor and Two Blocks from Prospect Park

Exclusively Listed By

Listing Price: $3,000,000

Cap Rate
3.62%
Number of Units
8
GRM
17.25
Occupancy
97.0%
Price/Unit
$375,000
Price/Gross SF
$483.87
Gross SF
6,200

Investment Highlights

  • Four-Story Multifamily Building Totaling 7,250 SF
  • Consists of Eight Apartments with Five Free-Market Units and 3 Rent-Regulated Units
  • Over 26-Feet Wide Allowing for Redevelopment Opportunities
  • Park Slope Residential Rents Reaching $55-65 PSF
  • Located Two Blocks Away from the 7th Avenue "F" and "G" Subway Station
  • Adjacent to the 7th Avenue Retail Corridor and Two Blocks from Prospect Park

Investment Overview

Marcus & Millichap has been exclusively retained on the sale of 496 11th Street, a four-story multifamily building in between 7th Avenue and 8th Avenue in the Park Slope section of Brooklyn, New York. The subject property is built 26.33 x 70 ft. and sits on a 26.33 x 94.33 ft. R6A, C2-4 zoned lot (Block: 1096 Lot: 8).

The existing building totals approximately 7,250 SF and consists of eight apartments. The property has two apartments on each floor and consists of five free-market units, two rent-stabilized units and one rent-controlled apartment.

496 11th Street is located two blocks away from the 7th Avenue "F" and "G" subway station and four blocks from the 9th Street R Train. The property is also two blocks from Prospect Park. The building is located within the Park Slope Extension Historic District.

The purchaser can capitalize on the close proximity to public transportation, the 7th Avenue retail corridor, and Prospect Park. The purchaser has the opportunity to grow the rent roll by increasing the below market rents.

Exclusively Listed By

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