2724 Pitkin AveBrooklyn, NY 11208

For Sale
$3,500,000

High-Cap Rate Multifamily Investment

Overview

Added:
Dec 11, 2024
Days on market:
95
This exceptional Brooklyn apartment building at 2724 Pitkin Avenue presents a compelling investment opportunity. Boasting 8,145 square feet of net rentable space, the property is offered at $3,500,000, translating to a price per square foot of $430. The building enjoys a strong 7.21% capitalization rate, generating a substantial net operating income (NOI) of $252,502. Its strategic location offers unparalleled transportation accessibility, situated just 50 feet from the Euclid Avenue station (A & C trains), providing easy access to Brooklyn, Queens, and Manhattan. The building's design incorporates air shafts on both sides, ensuring ample natural light and air circulation throughout the units, contributing to efficient layouts. Furthermore, the property is entirely free-market, presenting significant potential for future appreciation as the neighborhood continues to improve. Recent renovations and meticulous maintenance have resulted in a building that requires no immediate capital improvements, minimizing upfront expenses for the new owner. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a rapidly developing Brooklyn neighborhood. The property's strong cash flow, prime location, and potential for future growth make it an ideal addition to any investment portfolio.

Highlights

  • Abundant Natural Light & Ventilation: Dual air shafts maximize natural light and ventilation.
  • Unrestricted Market Potential: Fully free-market property poised for appreciation.
  • Prime Transit Location: 50-foot proximity to Euclid Avenue station (A & C trains).
  • Excellent Condition: Recently renovated and well-maintained; no immediate capital expenditures needed.

Location Insight

City
Brooklyn
County
Kings
State
New York
Latitude
40.675432412872
Longitude
-73.871677258237
2724 Pitkin Ave, Brooklyn, New York

FAQs

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2724 Pitkin Ave
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