1355 18Th StBrooklyn, NY 11230

For Sale
$14,250,000

88 Units, 6-Story, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
95
This exceptional investment opportunity presents a six-story, 88-unit apartment building located at 1355 East 18th Street in the Midwood neighborhood of Brooklyn, New York. Built in 1961, the property boasts a substantial 103,487 square feet and sits on a lot zoned R6. The asking price is $14,250,000, translating to a price per square foot of $137.70 and a price per unit of $161,932. The building's strong financial performance is evident in its impressive Net Operating Income (NOI) of $893,475, yielding a 6.27% capitalization rate. This represents a compelling return on investment for discerning buyers. The property's size and unit count offer significant potential for future appreciation and income growth. Its location in the desirable Midwood neighborhood provides access to a thriving community with ample amenities and convenient transportation links. This is a rare chance to acquire a well-established, high-performing multifamily asset in a prime Brooklyn location. The property's solid history and strong financial metrics make it an ideal addition to any portfolio. Detailed financial statements are available upon request. The property's zip code is 11230.

Property Details for 1355 18Th St

Property type
Multifamily properties, Apartment buildings
Square Feet
103,487 SF
Year Built
1961
Buildings
1
Stories
6
Units
88

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.6170764
Longitude
-73.9567366
1355 18Th St, Brooklyn, New York

FAQs

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1355 18Th St
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