Newer 8-Unit MultiFamily at 94 Scholes Street
FOR SALE
$4,250,000
94 Scholes Street, Brooklyn, NY 11206
6,992 SF
Square Feet
$608
PPSF
8
Units
500.0K
PPU
3.94%
CAP
Property Description
Units
8 — PPU: 500.0K
NOI
$167,629
Cap Rate
3.94%
- Newer brick 8-unit walk-up in prime Williamsburg
- Final year of 421-A with riders in place for every unit
- Ability to rapidly reprice rents and build to ~7% pro forma cap within 12–18 months
- Attractive low basis at $608/SF in a market where land trades $400+/BSF
- Strong transit access (L, G, J/M/Z) just blocks away
Property Details
Asset Type
MultiFamily
Zoning
R6
Lot Size
2,500 SF
Neighborhood
East Williamsburg
Submarket
Brooklyn
ZIP
11206
Listing Type
sale
Offering Memorandum
30 years
10 years
Net Operating Income (NOI)
$265,943
Debt Service Coverage Ratio (DSCR)
1.10x
Cap Rate
6.26%
Cash Flow (Annual)
$24,177
Cash-on-Cash Return
2.28%
Monthly Debt Service
$20,147
Annual Debt Service
$241,766
View on Map
Address
94 Scholes Street
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Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
No investors found in this market.
