181 Irving Ave
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181 Irving Ave
4,875 SF 100% Leased Retail Building Brooklyn, NY 11237 $3,958,388 CAD ($812 CAD/SF) 6.61% Cap Rate
Investment Highlights
- ALL APARTMENTS ARE FREE MARKET
- GREAT LOCATION, NEAR DEKALB L LINE, JEFFERSPN L LINE AND KNICKERBOCKER/MYRTLE J, M & Z LINES
- RECENTLY REMODLED-MINT MODERN CONDITION
Executive Summary
INVESTORS DREAM!
Mint Condition Brick Mixed Use-4 Family + 2 Stores. Apartments each have 2 bedrooms, 1 bathroom, living room, eat in kitchens & there are 2 commercial stores. All apartments are free market, mint and modern featuring hardwood floors, high ceilings, & tall windows for natural light. The basement has been newly renovated and also featuring a fenced in large backyard. Other improvements include a recently repointed and sealed facade, new electric and gas lines, a new roof done approx. 4 years ago, new plumbing, separate water meters for the stores, remodeled hallways and basement, brand new windows throughout the entire building, upgraded bathrooms, brand new appliances, and a steel staircase to the basement. An additional 1,200 sq. ft. buildable space provides an opportunity to build. Great location! Situated in Bushwick’s trendiest section, approx. 1 block to the Dekalb L train station, 1 stop to the Jefferson L train station, and 6 minutes to the Knickerbocker/Myrtle J, M, Z train line. Zoning R6, FAR 1.95, and Max FAR 2.43.
House size: 25 × 65
Lot size: 25 × 100
Fuel: Natural Gas
Annual Taxes: approx. $12,841
Mint Condition Brick Mixed Use-4 Family + 2 Stores. Apartments each have 2 bedrooms, 1 bathroom, living room, eat in kitchens & there are 2 commercial stores. All apartments are free market, mint and modern featuring hardwood floors, high ceilings, & tall windows for natural light. The basement has been newly renovated and also featuring a fenced in large backyard. Other improvements include a recently repointed and sealed facade, new electric and gas lines, a new roof done approx. 4 years ago, new plumbing, separate water meters for the stores, remodeled hallways and basement, brand new windows throughout the entire building, upgraded bathrooms, brand new appliances, and a steel staircase to the basement. An additional 1,200 sq. ft. buildable space provides an opportunity to build. Great location! Situated in Bushwick’s trendiest section, approx. 1 block to the Dekalb L train station, 1 stop to the Jefferson L train station, and 6 minutes to the Knickerbocker/Myrtle J, M, Z train line. Zoning R6, FAR 1.95, and Max FAR 2.43.
House size: 25 × 65
Lot size: 25 × 100
Fuel: Natural Gas
Annual Taxes: approx. $12,841
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,875 SF
Year Built
1931
Price
$3,958,388 CAD
Price Per SF
$812 CAD
Cap Rate
6.61%
NOI
$261,773 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.95
Land Acres
0.06 AC
Zoning
R6, Brooklyn (S4) - R6 ZONING with 1200 available air rights R6
Frontage
25 ft on Irving Ave
Amenities
- Metro/Subway
Walk Score ®
Walker's Paradise (97)
Transit Score ®
Rider's Paradise (99)
Bike Score ®
Biker's Paradise (95)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 03259-0003 | Total Assessment | $581,441 CAD |
| Land Assessment | $10,090 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $571,351 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
03259-0003
Land Assessment
$10,090 CAD
Improvements Assessment
$571,351 CAD
Total Assessment
$581,441 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
-
Salvatore Crifasi -
Joe Crifasi -
Crifasi Commercial Real Estate
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181 Irving Ave
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