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Four by Four Portfolio

PROPERTY METRICS

  • Property Size 14,340 SF
  • Cap Rate 7.16%
  • Price / sq ft $349
  • Residential Units 16
  • Price $5,000,000
  • Property Type Multifamily
  • Address Four by Four Porfolio
  • City Brooklyn
  • State NY

PROPERTY DETAILS

The Nowak Group of Marcus & Millichap has been exclusively retained by ownership to arrange to sale of Four by Four Portfolio, a four-building, 16-unit portfolio located in the East New York and Brownsville sections of Brooklyn.

The portfolio is comprised of 898 Saratoga Avenue, 528 Liberty Avenue, 789 Vermont Street, and 434 Montauk Avenue. Each building is a 4-unit residential building of brick construction. 13 of the 16 units are occupied by Section 8 tenants.

The portfolio benefits from low maintenance expenses and the security of city-guaranteed rental income with regular increases. The increases offer easily attained upside and increased cash flow. Because the 4-unit buildings are not subject to rent regulation, each unit is free market upon vacancy.

The Four by Four East New York Portfolio offers investors the opportunity to purchase a fully cash-flowing real estate asset with city-guaranteed income, with easily realizable upside in the immediate future, and the eventuality of unregulated, free-market apartments.

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