Modern MultiFamily Investment at 518 Meeker Avenue
$3,850,000
518 Meeker Avenue, Brooklyn, NY 11222
9,682 SF
Square Feet
$398
PPSF
10
Units
300.0K
PPU
5.40%
CAP
Property Description
Units
10 — PPU: 300.0K
NOI
$207,900
Cap Rate
5.40%
518 Meeker Avenue offers investors a modern 10-unit multifamily elevator building in one of Brooklyn’s most sought-after rental corridors. The property spans 9,682 gross square feet on a 50' x 63' lot and features a diverse mix of studios, two, and three-bedroom layouts—many with private outdoor space. Apartments are finished with modern kitchens, stainless steel appliances, hardwood flooring, washer/dryer hookups, and open layouts, catering to today’s high-income renter base.
Positioned at the convergence of Williamsburg and Greenpoint, 518 Meeker is surrounded by a mix of boutique retail, new development, and destination dining. Additional revenue opportunities exist through 10 large storage units, bike storage, and the potential to upgrade common areas or reactivate the rooftop amenity space with skyline views.
Tenants enjoy seamless access to the Graham Avenue L Train, Nassau Avenue G Train, and the BQE, connecting to Manhattan in minutes. The property sits near some of North Brooklyn’s most notable attractions, including McCarren Park, Brooklyn Steel, Warsaw, and acclaimed restaurants such as Lilia, Misi, and Bonnie’s. 518 Meeker Avenue is an ideal long-term hold or value-add opportunity in a proven, high-demand submarket.
- 10-Unit Elevator Building Spanning 9,682 Gross SF on a 50' x 63' Lot
- Modern Apartments Ranging from Studios to 3-Bedrooms | Most with Private Outdoor Space
- Upside Potential Through Storage Income, Amenity Upgrades & Rooftop Repositioning
- High-End Finishes | Stainless Steel Appliances, Hardwood Floors, Washer/Dryer Hookups
- Prime Williamsburg/Greenpoint Location | Access to Graham Avenue L-Train and Nassau Avenue G-Train
- Surrounded by North Brooklyn’s Top Dining, Parks & Venues Including McCarren Park, Lilia, and Brooklyn Steel
Property Details
Asset Type
MultiFamily
Year Built
2005
Zoning
R6
Lot Size
2,200 SF
Neighborhood
East Williamsburg
Submarket
Brooklyn
ZIP
11222
Listing Type
sale
Net Operating Income (NOI)
$329,833
Debt Service Coverage Ratio (DSCR)
1.51x
Cap Rate
8.57%
Cash Flow (Annual)
$110,822
Cash-on-Cash Return
11.51%
Monthly Debt Service
$18,251
Annual Debt Service
$219,012
View on Map
Address
518 Meeker Avenue
Log in to see street view
Get exclusive comps and insights by logging in - it's free!
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
No investors found in this market.