- Cap Rate
- 8.5%
- Cash Flow / Yr
- $162K
- IRR
- 9%
- Purchase Price
- $350K
Overview
A ground-up, eight-unit apartment building on Schaefer Street in Brooklyn, NY, held as an income property. Purchased for $350K and built for $1.5M, it was completed in April 2021 and produces $162K a year before debt service — an 8.5% cap rate.
Income Snapshot
Rental PropertyCap Rate
8.5%
- Purchased
- Feb 2014
- Purchase Price
- $350K
- Construction Cost
- $1.5M
- IRR
- 9%
- Annual Cash Flow
- $162K
- Project Length
- 18 months
- Units
- 8
- Size
- 7,700 sq ft
Income Performance
- Annual Cash Flow*
- $162K
- Cap Rate
- 8.5%
- IRR
- 9%
- Cost Basis
- $1.85M
Total cost$1.85M
Purchase $350KConstruction $1.5M
Purchased
Feb 2014
Status
Held
*Before debt service. Figures as reported in the Prime Equity portfolio. Past performance is not indicative of future results.
Gallery
Property Details
- Project Type
- Ground Up
- Property
- 8-unit apartment building
- Completed
- April 2021
- Building Value
- $5.4M
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