479 Warren StBrooklyn, NY 11217

Property Details for 479 Warren St

Year built

1920

Lot size

0.06 AC

Property size (Sq ft)

5,800 SF

Zone code

R6B

Property type

Apartment buildings

APN

00393-0044

APU

3930044

Description

This exceptional nine-unit multifamily building at 479 Warren Street in Brooklyn's desirable Boerum Hill neighborhood presents a compelling investment opportunity. The property boasts approximately 5,880 square feet across four stories and sits on a 26.25-foot-wide lot. The building comprises a mix of six free-market and three rent-stabilized units, offering a balanced income stream. Its prime location offers easy access to a robust public transportation network, including the 2, 3, 4, 5, B, D, N, Q, and R subway lines at the nearby Atlantic Avenue-Barclays Center station. The property benefits from its proximity to the significant residential development underway in Gowanus, further enhancing its long-term growth potential. With a proven track record of strong occupancy rates, this asset represents a stable and attractive investment in a thriving Brooklyn market. The asking price is $4,625,000, and the property offers a 6.00% cap rate. This is a rare opportunity to acquire a well-maintained multifamily building in a highly sought-after location. The building's size and unit mix provide a solid foundation for future growth and appreciation.

• CAP approach

  CAP return

  Valuation

  6%

  $1,189,052

  6.5%

  $1,097,587

  7%

  $1,019,188

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,174,633

  Geo Method

  $1,174,633

• Alternative Use

  Use

  Valuation

  Residential

  $1,097,587

  Hospitality

  $1,005,384

  Educational

  $836,467

  Medical

  $865,235

  Retail

  $1,301,172

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6833

Longitude

-73.9852

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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