22 Patchen Ave
- Fully renovated multifamily building located in the BedfordStuyvesant neighborhood of Brooklyn.
- Property underwent substantial rehabilitation and ownership can provide supporting documentation.
- The building features 7 residential units totaling approximately 3,600 square feet.
- The property was recently completed. Unit mix includes six 1-bedroom units and one 2-bedroom apartment with a private backyard and a cellar.
- The property is separately metered for heat and electric.
- Protected Tax Class 2B, limiting future tax increases.
- Projected $252,000 in gross annual income with $210,635 NOI.
- Located near the Kosciuszko Street station (J line) and Myrtle Avenue station (J, M, and Z lines).
Property Description
Asset CRG Advisors, LLC, has been exclusively retained to market 22 Patchen Ave, a fully renovated multifamily building located in the Bedford-Stuyvesant neighborhood of Brooklyn. Property underwent substantial rehabilitation and ownership can provide supporting documentation. The property consists of approximately 3,600 built square feet and is currently configured with 7 residential units, including six onebedroom apartments and one two-bedroom apartment with a private backyard and a cellar. The building is separately metered for heat and electric and benefits from Protected Tax Class 2B status, limiting future tax increases. The property is currently vacant and was recently completed, presenting an opportunity for immediate lease-up. Upon full occupancy, the asset is projected to generate approximately $252,000 in gross annual income and $210,635 in net operating income, offering strong cash flow potential for investors seeking a turnkey multifamily asset.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,650,000 |
| No. of Units: | 7 |
| Lot Size: | 1.00 Acres |
| Opportunity Zone: | No |
| Price per unit: | $378,571 |
| Property Website | Click Here |
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