241 Himrod StBrooklyn, NY 11237

Property Details for 241 Himrod St

Year built

1931

Lot size

0.06 AC

Property size (Sq ft)

4,350 SF

Zone code

R6

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

03269-0048

APU

32690048

Description

This exceptional investment opportunity presents a well-maintained, six-unit multifamily building located at 241 Himrod Street in the vibrant Bushwick neighborhood of Brooklyn, New York, and bordering Ridgewood, Queens. The property boasts a total of 4,350 square feet spread across three stories, offering a compelling mix of rental income and potential for future appreciation. Currently operating as a fully leased, cash-flowing asset, this building provides immediate returns for investors. Classified as a Tax Class 2A property, this designation offers significant tax advantages and protection. The building's strong occupancy rate and minimal deferred maintenance contribute to its attractive financial profile. The convenient location allows for efficient management operations, further enhancing its appeal. The property's proximity to both Bushwick and Ridgewood provides access to a diverse range of amenities and transportation options. This is a rare opportunity to acquire a stable, income-producing asset in a rapidly appreciating market, offering both immediate returns and significant long-term potential. The asking price is $1,770,000. This property is a must-see for discerning investors seeking a secure and profitable investment in a prime Brooklyn location.

• CAP approach

  CAP return

  Valuation

  6%

  $891,789

  6.5%

  $823,190

  7%

  $764,391

• Comparable approach

  Method

  Valuation

  Relative Method

  $880,975

  Geo Method

  $880,975

• Alternative Use

  Use

  Valuation

  Residential

  $823,190

  Hospitality

  $754,038

  Educational

  $627,351

  Medical

  $648,926

  Retail

  $975,879

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.7007

Longitude

-73.9197

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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