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Multi Family
1637 Nostrand Avenue
Brooklyn, NY 11226
$949,000
- Beds
- 12
- Baths
- 6
- Sq ft
- 5,400
- Year built
- 1931
Listing courtesy of ELI ELIAHOU HALIVA, Compass
About this home
Six-family brick walk-up in East Flatbush, half a block from the 2/5 train at Beverly Rd. All six units are 2BR/1BA, 100% occupied and rent-stabilized.
$111,516 gross annual rent. $63,176 NOI. 6.66% cap rate and 8.5x GRM at $949,000 ($158,167 per unit).
The top-floor unit is fully renovated: open kitchen with quartz island and stainless steel appliances. Updated boiler and two hot water heaters. Tax Class 2A, with assessment increases capped at 8% per year and 30% over 5 years. No Local Law 97, no Local Law 11 (FISP), no elevator.
Built for an all-cash or low-leverage buyer who wants stable in-place cash flow on a long-term hold.
Rent roll and expense statement available on request.
$111,516 gross annual rent. $63,176 NOI. 6.66% cap rate and 8.5x GRM at $949,000 ($158,167 per unit).
The top-floor unit is fully renovated: open kitchen with quartz island and stainless steel appliances. Updated boiler and two hot water heaters. Tax Class 2A, with assessment increases capped at 8% per year and 30% over 5 years. No Local Law 97, no Local Law 11 (FISP), no elevator.
Built for an all-cash or low-leverage buyer who wants stable in-place cash flow on a long-term hold.
Rent roll and expense statement available on request.
Details
Property
- Type
- Multi Family
- Year built
- 1931
- Stories
- 4
- Subdivision
- Flatbush
- County
- Kings
Interior
- Laundry
- See Remarks
- Furnished
- Unfurnished
Community and fees
- Pets
- Building No, No
Neighborhood
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