0 551-547-553 Lincoln PlBrooklyn, NY 11238

For Sale
$9,000,000

Prime Crown Heights, 54 Units, Renovated

Overview

Added:
Dec 11, 2024
Days on market:
95
This exceptional Class A apartment building, located in the desirable Crown Heights neighborhood of Brooklyn, NY, presents a compelling investment opportunity. The property, situated at 551-547-553 Lincoln Place, 11238, comprises 54 units, a mix of 16 three-bedroom and 38 four-bedroom apartments. A recent renovation, completed approximately 10 years ago, ensured the building boasts updated electrical systems, plumbing, and a rubber roof. Further enhancing its appeal is an on-site laundry room. The building's financial performance is highlighted by an asking price of $9,000,000. Annual operating expenses include property taxes of $161,579, water and sewer costs of $62,776, and fuel expenses of $47,771. This meticulously maintained property offers a strong potential return on investment in a prime Brooklyn location. The building's excellent condition and desirable features make it an attractive prospect for discerning investors seeking a high-quality multifamily asset in a thriving market. This is a rare opportunity to acquire a well-maintained, income-producing property in a highly sought-after area.

Highlights

  • 16 three-bedroom units and 38 four-bedroom units.
  • Asking price: $9,000,000.
  • Annual property taxes: $161,579.
  • Annual water and sewer costs: $62,776.
  • Annual fuel costs: $47,771.

Property Details for 0 551-547-553 Lincoln Pl

Property type
Multifamily properties, Apartment buildings
Class
A

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.6718153
Longitude
-73.9582062
551-547-553 Lincoln Pl, Brooklyn, New York

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0 551-547-553 Lincoln Pl
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