141 Tompkins AveBrooklyn, NY 11206

For Sale
$1,620,000
Prime Brooklyn location, redevelopment potential.

Overview

Added:
Dec 11, 2024
Days on market:
126
This exceptional three-story, 2,451 square foot apartment building at 141 Tompkins Avenue in Bedford-Stuyvesant, Brooklyn presents a compelling investment opportunity. Built in 1931, this property sits on a 1,740 square foot lot (20.42 x 85 feet) and boasts a building footprint of 20.42 x 40 feet. Currently configured as a six-family building with five one-bedroom units and a studio, the property offers a current rent roll of $104,000 with month-to-month tenants. The landlord covers all utilities. Zoned R6A, this property offers significant redevelopment potential. It could be legally converted into a four-unit building with a retail space, or potentially expanded to nine units total by utilizing unused air rights, including two inclusionary housing units and seven free market apartments. The property is delivered "as is" with existing tenants. Its prime location offers easy access to the J, M, and Z subway lines at Myrtle Avenue, making it ideal for commuters. A large backyard adds to the property's appeal. The current cap rate is 4.77%, with a potential cap rate of 10.79%. The asking price is $1,620,000.

Highlights

  • $1,620,000 asking price for this Bedford-Stuyvesant multifamily building.
  • Three-story, 2,451 square foot brick building on a 1,740 square foot lot.
  • Currently configured as a six-unit building (five one-bedrooms and a studio), with potential for redevelopment into a four-unit building with a store, or up to nine units utilizing air rights.
  • R6A zoning allows for mixed-use development.
  • $104,000 annual rent roll with month-to-month tenants; landlord pays all utilities.
  • Prime Bed-Stuy location near the J, M, and Z trains at Myrtle Avenue.

Property Details for 141 Tompkins Ave

Property type
Apartment buildings
Square Feet
2,451 SF
Year Built
1931
Buildings
1
Stories
3

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.6945914
Longitude
-73.9458937
141 Tompkins Ave, Brooklyn, New York

FAQs

What type of property is this?
Apartment building - Prime Brooklyn location, redevelopment potential.
Where is the apartment building located?
The property is located at 141 Tompkins Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,620,000.
What are key features of this property?
This property features: $1,620,000 asking price for this Bedford-Stuyvesant multifamily building.; Three-story, 2,451 square foot brick building on a 1,740 square foot lot.; Currently configured as a six-unit building (five one-bedrooms and a studio), with potential for redevelopment into a four-unit building with a store, or up to nine units utilizing air rights.
How can I contact the broker?
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141 Tompkins Ave
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