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771 E 32nd St
Brooklyn, NY 11210 East Flatbush

$5,000,000 USD

Multifamily For Sale  •  9,920 SF

Property Details

• Property Type Multifamily
• Total Building Size 9,920 SF
• Lot Size 0.05 AC
• Year Built 2019
• Cap Rate 6.51 %
• Zoning R6

100 Transit Score

95 Walk Score

Highlights

Well-Located: Just blocks from Target and Brooklyn College, two key economic engines for Central Brooklyn

2019 Construction: Properties is highly efficient and represents turn-key cashflow with very low maintenance

High-End Finishes: Units are outfitted with high-end appliances, fixtures, central heating / cooling and all have private terraces, rooftops

421a Tax Abatement: Properties benefit from 421a tax abatement (expires 2057), with current total taxes of just $3,737 per year

High Legal Rents: 4 of 12 units are rent stabilized per the 421a tax abatement – current rents for stabilized units average $2,348/mo.

Path To Fully Free Market: Four stabilized units can be converted to free market upon tenant turnover after abatement expiration.

Cap Rate:

6.51 %

Public Transportation

Commuter Rail	Drive	Walk	Distance
Nostrand Avenue Station (Far Rockaway Branch - Long Island Rail Road, Hempstead Branch - Long Island Rail Road, Long Beach Branch - Long Island Rail Road, West Hempstead Branch - Long Island Rail Road)	13 min	-	3.7 mi
East New York Station (Far Rockaway Branch - Long Island Rail Road, Long Beach Branch - Long Island Rail Road, West Hempstead Branch - Long Island Rail Road)	10 min	-	4.6 mi
Transit/Subway	Drive	Walk	Distance
Brooklyn College-Flatbush Avenue (2 - New York MTA Subway (The Subway), 5 - New York MTA Subway (The Subway))	1 min	3 min	0.2 mi
Newkirk Avenue (2,5 Line) (2 - New York MTA Subway (The Subway), 5 - New York MTA Subway (The Subway))	3 min	12 min	0.7 mi
Avenue H (Q - New York MTA Subway (The Subway))	5 min	19 min	1.0 mi
Beverly Road (2,5 Line) (2 - New York MTA Subway (The Subway), 5 - New York MTA Subway (The Subway))	4 min	19 min	1.0 mi
Airport	Drive	Walk	Distance
John F Kennedy International	21 min	-	11.5 mi
Laguardia	30 min	-	13.4 mi
Newark Liberty International	36 min	-	20.3 mi