For Sale
$1,200,000

3022 Brighton 5Th StBrooklyn, NY 11235

12-Unit Student Housing, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
116
Exceptional investment opportunity in vibrant Brighton Beach, Brooklyn. This Class A, two-story multifamily property boasts 12 units, currently 100% occupied, generating a substantial net operating income (NOI) of $75,126 and a 6.26% capitalization rate. The building features a total of 2,880 square feet on a 2,800 square foot lot, with three kitchens (one per floor) and two full bathrooms in the basement. Each of the twelve units has been recently renovated. The property is zoned R6, OP, offering potential for future development. The asking price is $1,200,000, translating to $100,000 per unit and $416.67 per square foot. This represents a strong value proposition in a high-demand student housing market. The building's solid performance and potential for upside make it an attractive addition to any investment portfolio. This is a turnkey operation with a proven track record of success.

Highlights

  • Hotel/SRO with furnished rooms; redevelopment potential.
  • Two-story building with basement.
  • Twelve units, 100% occupancy.
  • 2,880 square feet (6,800 buildable square feet); $416 per square foot ($174 per buildable square foot).
  • Three kitchens, two basement bathrooms.
  • Recently renovated units.

Property Details for 3022 Brighton 5Th St

Property type
Dormitories, Student housing
Square Feet
2,880 SF
Class
A
Stories
2
Units
12

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.5788025
Longitude
-73.963133
3022 Brighton 5Th St, Brooklyn, New York

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3022 Brighton 5Th St
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