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235 Malcolm X Blvd

9 Unit Apartment Building $5,197,316 CAD ($577,480 CAD/Unit) 6.21% Cap Rate Brooklyn, NY 11233

Investment Highlights

  • Free-Market, Fully Renovated Apartments
  • Tax Class 2B Limits Future Tax Increases
  • Located in the Heart of Bedford-Stuyvesant

Executive Summary

RIPCO Real Estate has been retained on an exclusive basis to arrange for the sale of 235 Malcolm X Boulevard - Bedford-Stuyvesant, Brooklyn.
This four-story brick building is situated just off the corner of Hancock Street on Malcolm X Boulevard. The building features two ground-floor retail units, leased to a restaurant and a salon, and seven (7) apartments above. The building was fully renovated by the current owner in 2015, and all of the apartments were deregulated and are currently free-market. All apartments feature high ceilings, recessed lighting, open kitchens with stainless steel appliances, decorative brick fireplaces, and in-unit washer-dryers (exception - #1R).
235 Malcolm X Boulevard is surrounded by a variety of food and drink establishments, providing convenience for its residents. The building is a short walk from the Halsey Street J train to the east and the Utica Avenue A/C trains to the south. Additionally, it is close to several public and charter schools, Fulton and Saratoga Parks, and the Interfaith Medical Center on Atlantic Avenue.
Please reach out to the exclusive brokers with any questions about the opportunity.

Property Facts

Price $5,197,316 CAD
Price Per Unit $577,480 CAD
Sale Type Investment
Cap Rate 6.21%
No. Units 9
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
Apartment Style Mid Rise
Building Class C
Lot Size 0.05 AC
Building Size 6,760 SF
Average Occupancy 100%
No. Stories 4
Year Built/Renovated 1910/2016

Unit Amenities

  • Air Conditioning
  • Microwave
  • Ceiling Fans
  • Kitchen
  • Hardwood Floors
  • Refrigerator
  • Oven
  • Tub/Shower

Site Amenities

  • 24 Hour Access
Walk Score ®
Walker's Paradise (93)
Transit Score ®
Rider's Paradise (99)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
01662-0008
Land Assessment
$9,414 CAD
Improvements Assessment
$622,455 CAD
Total Assessment
$631,869 CAD

zoning

Zoning Code R6A (R6A Zoning is a medium-density residential zoning district. It is a contextual zone that follows the regulations of the Quality Housing Program.)
R6A (R6A Zoning is a medium-density residential zoning district. It is a contextual zone that follows the regulations of the Quality Housing Program.)
  • Listing ID: 33663835

  • Date on Market: 2024-10-28

  • Last Updated:

  • Address: 235 Malcolm X Blvd, Brooklyn, NY 11233

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