2823 Snyder AveBrooklyn, NY 11226

This exceptional 18-unit apartment building, constructed in 2018, presents a compelling investment opportunity in a prime Brooklyn location. Boasting 13,805 square feet, the property commands a desirable $7,100,000 asking price, translating to a $514 per square foot cost and a strong $394,444.44 price per unit. Currently operating at 100% occupancy, the building generates a substantial net operating income (NOI) of $438,326, yielding a 6.20% cap rate. High-end finishes, including stainless steel appliances, central air conditioning, and stone countertops, enhance the appeal of each unit. Building amenities include in-building laundry, a lounge area, a shared backyard, and roof access. The property benefits from a 421a tax abatement (year 5 of 35), resulting in a low annual tax bill of only $3,400. Situated on Snyder Avenue, between Nostrand and Rogers Avenues, this property enjoys a coveted location bordering Prospect Lefferts Gardens and Flatbush. Its proximity to the 2, 5, and Q subway lines ensures easy access to Downtown Brooklyn and Union Square. Abundant retail options along Church and Flatbush Avenues, including major retailers like Target and Key Foods, further enhance the property's desirability. While units are currently rent-stabilized under the 421a abatement, the potential exists to destabilize units upon tenant turnover after the abatement expires, offering a clear path to a fully free-market rental structure. This meticulously maintained, nearly new building offers a rare combination of strong current income, significant future upside, and a highly desirable location.