390 EAST 21 STREET

For Sale - Brooklyn - Flatbush - Ditmas Park

$2,600,000

Net Operating Income: $124,678

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Key Details

Property Type
MultiFamily
Neighborhood
Flatbush - Ditmas Park
Property Dimensions
41.0 x 72.0
Property Area
11,520 sq.ft.
Total Units:
15
Stories:
4
NOI
$124,678
Price
$2,600,000
Price Per Unit
$173,333
Cap Rate
4.8%

Listing Description

Avison Young is engaged by Ownership as exclusive agent to offer for sale 390 East 21st Street and 2500 Bedford Avenue (“Properties”) in the Flatbush-Ditmas Park neighborhood of Brooklyn. 390 East 21st Street is situated on the west side of East 21st Street between Beverly Road and Cortelyou Road, while 2500 Bedford Avenue is situated between Clarendon Road and Avenue D. The Properties are both within a few blocks from Flatbush Avenue, one of the area’s primary corridors.

The buildings encompass 28,920± square feet across 39 rent-regulated residential units. The four-story apartment building at 390 East 21st Street contains 15 residential apartments across 11,520± square feet while 2500 Bedford Avenue, spanning four stories, contains 24 residential apartments across 17,400± square feet. Both Properties have renovated common areas.

390 East 21st Street and 2500 Bedford Avenue present an exceptional opportunity in a unique neighborhood. Within close proximity to the Q, 2 and 5 subway lines and nearby Prospect Park, the Properties are well positioned in the quaint Flatbush-Ditmas Park neighborhood. The Properties close proximity to each other allow for management efficiencies for a potential investor.

Property Details

Block/Lot:
5151/11
Lot Dimensions
41.0 x 80.0
Lot Area
3,280 sq.ft
Zoning:
R7A
FAR as Built:
3.51
Max FAR:
4.0
Sam SchertzAvison Young
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