141 Tompkins AveBrooklyn, NY 11206

Property Details for 141 Tompkins Ave

Year built

1931

Property size (Sq ft)

2,451 SF

Property type

Apartment buildings

Description

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.

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6946

Longitude

-73.9459

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