378 3Rd St, Brooklyn, NY 11211
8 Unit Apartment Building | $5,650,000 ($706,250/Unit) | 7% Cap Rate | Brooklyn, NY 11211
For Sale
Active
3 pictures
Asking Price $5,650,000
- Property Type
-
Multifamily
- Square Feet
- 5,500 SF
Listing Contacts
DJ Johnston
Henry Hill
Jermaine Pugh
Bobby Lawrence
Bryan Kirk
Henry Chardack
- Property Info
Property Overview
Matthew Real Estate Investment Services™ has been retained on an exclusive basis to arrange for the sale of 378 S. 3rd Street, an 8-unit multifamily walkup located in the Williamsburg neighborhood of Brooklyn.
Property Details
- Class
- B
- Year Built/Renovated
- 1930/2018
- Stories
- 4
- Lot Size (sq. ft)
- 2,178 SF
- Units
- 8
Highlights
- Newly constructed via an Alt 1 conversion (previously 4 units)
- 100% Free Market with 8 large units – seven (7) 3BR and one (1) 2BR
- Tax class 2B protects against significant tax increases (8% per year, no more than 30% over 5 years for buildings with 10 or less units)
- 3 Units have master leases with Roomrs signed in 2021 expiring in 2026, representing 20% upside in NOI
- Surrounded by prime Williamsburg retail, bars, and restaurants.
- Within 3 blocks to the J, M,G trains, providing access to Manhattan
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