487 Prospect Pl
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487 Prospect Pl
8 Unit Apartment Building $2,670,754 CAD ($333,844 CAD/Unit) 7.18% Cap Rate Brooklyn, NY 11238
Investment Highlights
- Heavy daytime foot traffic.
- High vehicle count.
Executive Summary
We are pleased to present this well-maintained 8 family in a superb location in Prospect Heights. Offering approximately 9000 square feet on 4 stories. Prospect Place is a beautiful tree lined Street boasting turn of the century charm. This remarkable building is 30’ wide and 85’deep offering very large floor plans each filled with natural light, a generous amount of windows and great ceiling heights. The building boasts many updates including kitchens, baths, hardwood flooring and concrete. All located moments from the many local shops and restaurants of Washington & Franklin Avenue, The Brooklyn Museum & Botanical Gardens, Prospect Park and mass transportation (2,3,4,5 Trains). All apartments have 2 bedrooms, 1 full bath, a living room and separate dining room. Seven Units are Rent Stabilized one unit is Rent Controlled.
Financial Summary (Actual - 2022) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$267,852
|
$30.15
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$267,852
|
$30.15
|
| Taxes |
$20,199
|
$2.27
|
| Operating Expenses |
$55,670
|
$6.27
|
| Total Expenses |
$75,868
|
$8.54
|
| Net Operating Income |
$191,983
|
$21.61
|
Financial Summary (Actual - 2022)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $267,852 |
| Annual Per SF | $30.15 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $267,852 |
| Annual Per SF | $30.15 |
| Taxes (CAD) | |
|---|---|
| Annual | $20,199 |
| Annual Per SF | $2.27 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $55,670 |
| Annual Per SF | $6.27 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $75,868 |
| Annual Per SF | $8.54 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $191,983 |
| Annual Per SF | $21.61 |
Property Facts
| Price | $2,670,754 CAD | Apartment Style | Low Rise |
| Price Per Unit | $333,844 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 7.18% | Building Size | 8,884 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built/Renovated | 1907/2015 |
| Price | $2,670,754 CAD |
| Price Per Unit | $333,844 CAD |
| Sale Type | Investment |
| Cap Rate | 7.18% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 8,884 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1907/2015 |
Unit Amenities
- Hardwood Floors
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | - |
1 of 1
Walk Score ®
Walker's Paradise (93)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Biker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 01155-0063 | Total Assessment | $2,087,795 CAD (2024) |
| Land Assessment | $10,609 CAD (2024) | Annual Taxes | $20,199 CAD ($2.27 CAD/SF) |
| Improvements Assessment | $2,077,186 CAD (2024) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
01155-0063
Land Assessment
$10,609 CAD (2024)
Improvements Assessment
$2,077,186 CAD (2024)
Total Assessment
$2,087,795 CAD (2024)
Annual Taxes
$20,199 CAD ($2.27 CAD/SF)
Tax Year
2022
zoning
| Zoning Code | r6a (Medium density residential district) |
| r6a (Medium density residential district) |
-
Joseph Baglio -
Matt Pelosi -
Madison Estates Sotheby's International Realty
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487 Prospect Pl
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