348 Knickerbocker Ave. $2,750,000

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    348 Knickerbocker Ave. Brooklyn, NY 11237

    • 6 Beds
    • 4 Baths
    • 5,385 sq. ft.
    • Multi-Family
    • MLS# 3710371
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    Views: 1 Days On Site: 22

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    Property Details

    Prime mixed-use building representing a turnkey investment. Located in Bushwick and centrally positioned on Knickerbocker Ave close to many restaurants, shops and the L and M train lines. This property features 4 free market rentals over a commercial space generating $193,000 in income at a 5.4% cap rate. There is also upside potential to renovate further increasing the rent roll. All apartments were gut renovated in 2008 during which time plumbing and electrical upgrades were also made. The building is configured as two JR4 (1-bedroom + home office) 1 bath apartments, and two 2-bedroom 1 bath apartments. The third-floor apartments both feature two skylights providing a desirable and light filled living space. All apartments are well maintained and in great condition. The roof has been well maintained and the setback portion of the roof above the commercial space was completely replaced in 2018. The roof above the 3rd floor apartments has been well maintained and was resealed and repainted in 2015. Additionally, each apartment has its own boiler system that was installed in 2009. Tenants pay for their own heat and electricity which keep the operating expenses low. The commercial tenant occupies the ground floor and has been in place since 2018 with a longer term lease until 2028. A complete setup is available upon request.

    • General Features
      • Year Built 1931
      • Hoa Fee 0.00
      • Neighborhood Bushwick
      • New Development No
      • Real Estate Tax 3013
    • Building Features
      • Building Bike Storage No
      • Building Class S4
      • Building Doorman No
      • Building Elevator No
      • Building Garage No
      • Building Gym No
      • Building Laundry No
      • Building Pets Yes
      • Building Pool No
      • Building Prewar Yes
      • Building Rooftop No
      • Building Storage No
      • Foyer No
      • Garden Yes
      • Has Fireplace No
      • Has Outdoor Space Yes
      • Number of Building Stories 3
      • Number of Building Units 4
      • Number of Half Baths 0
      • Number of Rooms 12.00
      • Unit Balcony No
      • Unit Garden Yes
      • Unit Laundry No
      • Unit Terrace No

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    Neighborhood

    11237 (Brooklyn) Demographics

    31 Median Age
    48,787 Population Density (per sq. mile)
    37% College Educated
    $53,303 Estimated Median Income
    1,567 Estimated Total Home Owners
    15,489 Estimated Total Renters
    9% / 91% Estimated Owner / Renter Divide
    3 Estimated Average Household Size
    48,876 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $620,000 Median Sales Price
    3 Homes Sold
    1 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source: Multiple Listing Service New Value: $2,750,000
        11/15/2021 12:37:00 PM New in Database Source: Multiple Listing Service New Value: $2,750,000

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        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.