8-Unit Multifamily Building in Bushwick

1567 Dekalb Avenue

Bushwick

$1,950,000

Size 8,060 SF
Frontage 31 Feet
Residential Units 8
Cross Streets Wyckoff + Irving Avenues
Subways
l
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Multifamily 1567 Dekalb Avenue, Bushwick
Fred Bijou
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Details

NOI $142,677
Lot Size 3,100 SF

Overview

TerraCRG has been retained to exclusively represent ownership in the sale of 1567 Dekalb Avenue, an eight-unit multifamily building in Bushwick, Brooklyn.

Located between Irving and Wyckoff Avenues, 1567 Dekalb Avenue is a four-story brick building consisting of 8,060 SF on a 31 ft x 100 ft lot. The property has been family-owned for over fifty years and with four of the eight rent-stabilized units currently vacant, there is the potential for significant upside on the rents.

After renovation to the vacant units, the property has a projected annual rent of ~$188,736 and a projected NOI of $142,677. At asking price, the offer is $285/PSF which is significantly below market.

Attractions

The building is located in one of the most prime sections of Bushwick on the same block as the L train at Dekalb Avenue and nearby the M train at Knickerbocker Avenue. It is also within short distance of Maria Hernandez Park and the Wyckoff Heights Medical Center.

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