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Blanche 553 58th St 24 Unit Apartment Building £4,148,467 (£172,853/Unit) 6.70% Net Initial Yield Brooklyn, NY 11220
EXECUTIVE SUMMARY
Welcome to 553 58th St, a distinguished 4-story walk-up apartment building in the heart of Brooklyn's vibrant Sunset Park neighborhood. This well-maintained property has 24 residential units, offering a total of 55 Bedrooms and 24 Bathrooms across 17,369 SF of living space. Residents enjoy spacious living space with vaulted ceilings, modern kitchens, and the convenience of on-site laundry facilities. Annual Owner Operating Income is $533K/year. Situated in the desirable Sunset Park Area, residents have access to a plethora of amenities, including restaurants, retail shops and cultural attractions. Public transportation Options are abundant. Subway: The property is approximately a 5-minute walk from the 59th St station, served by N&R lines. Bus: Several bus routes are accessible nearby, including the B11, B37 and X27. This property represents a compelling investment opportunity in a thriving Brooklyn neighborhood. With its solid income stream, manageable expenses and prime location, 553 58th Street is well-positioned to deliver consistent returns. Contact us today to learn more about this exceptional property!
PROPERTY FACTS
| Price | £4,148,467 | Apartment Style | Mid-Rise |
| Price Per Unit | £172,853 | Costar Property Class | C |
| Sale Type | Investment | Total Plot Size | 0.14 ac |
| Yield | 6.70% | Property Size | 17,344 sq ft |
| No. Units | 24 | Average Occupancy | 92% |
| Property Type | Build-to-Rent | No. Floors | 4 |
| Property Subtype | Apartment | Year Built | 1911 |
| Use Class | R6B - Located in the Sunset Park neighborhood between 5th Avenue & 6th Avenue near Belt Parkway and the 59th St subway station. | ||
| Price | £4,148,467 |
| Price Per Unit | £172,853 |
| Sale Type | Investment |
| Yield | 6.70% |
| No. Units | 24 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.14 ac |
| Property Size | 17,344 sq ft |
| Average Occupancy | 92% |
| No. Floors | 4 |
| Year Built | 1911 |
| Use Class | R6B - Located in the Sunset Park neighborhood between 5th Avenue & 6th Avenue near Belt Parkway and the 59th St subway station. |
AMENITIES
UNIT AMENITIES
- Basement
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| Studios | 2 | - | - |
| 1+1 | 4 | - | - |
| 2+1 | 8 | - | - |
| 3+2 | 10 | - | - |
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Walk Score®
Excellent pedestrian access (93)
Transit Score®
Rider's Paradise (95)
Bike Score®
Good for cycling (82)
PROPERTY TAXES
| Parcel Number | 00848-0054 | Improvements Assessment | £625,160 |
| Land Assessment | £26,340 | Total Assessment | £651,500 |
PROPERTY TAXES
Parcel Number
00848-0054
Land Assessment
£26,340
Improvements Assessment
£625,160
Total Assessment
£651,500
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Blanche | 553 58th St
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