240 Schenectady AveBrooklyn, NY 11213

Property Details for 240 Schenectady Ave

Year built

1907

Lot size

0.06 AC

Property size (Sq ft)

6,006 SF

Zone code

R6

Property type

Apartment buildings

APN

01377-0035

APU

13770035

Description

This exceptional three-story walk-up apartment building, located at 240 Schenectady Avenue in Brooklyn, New York (zip code 11213), presents a compelling investment opportunity. The property boasts a total of 6 units, although currently configured as 8, situated on a 2,600 square foot lot. Built in 1907, the building offers 6,006 square feet of living space and is zoned R6. Five out of the six units are designated as free market, offering flexibility and potential for increased rental income. The building's strong financial performance is reflected in its attractive 6.51% capitalization rate. This multifamily property is priced at $2,200,000 and represents a rare chance to acquire a well-located, income-generating asset in a thriving Brooklyn neighborhood. The property's Kings County location provides easy access to various amenities and transportation options. This is an ideal investment for those seeking a stable, high-yield return in the robust New York City real estate market. The building's solid construction and desirable location make it a low-risk, high-reward investment prospect. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $1,231,284

  6.5%

  $1,136,570

  7%

  $1,055,386

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,216,353

  Geo Method

  $1,216,353

• Alternative Use

  Use

  Valuation

  Residential

  $1,136,570

  Hospitality

  $1,041,092

  Educational

  $866,176

  Medical

  $895,966

  Retail

  $1,347,386

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6711

Longitude

-73.934

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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