319 MENAHAN STREET

Bushwick, Brooklyn, New York

$1,500,000

Click for Property OM

Type:

Multifamily

Sq Ft:

5,350

Units:

6

More Photos

Property Description

IPRG is pleased to present 319 Menahan Street, a well-maintained six-family brick building in the heart of Bushwick, Brooklyn. Built 24.5’ × 65’ on a 24.5’ × 100’ lot
(±5,350 existing SF), the property delivers strong day-one cash flow with multiple avenues for future upside.

KEY HIGHLIGHTS:

Three Fully Gut-Renovated, High-Rent Units
Ownership invested over $400,000 renovating these three units, each featuring high-end finishes, individual HVAC systems, and fully signed-off DOB GC permits. Two
units are true free-market. One remains rent-stabilized (did not previously meet the high-rent vacancy decontrol threshold) with a current preferential/market rent of
$2,692/mo and a legal regulated rent of $4,402/mo, offering immediate mark-to-market upside upon turnover.
IAI Documentation Package
Ownership will provide a complete renovation file, including before/during/after photos, signed GC and architect contracts, invoices, and copies of all canceled checks.
Legal Garden Duplex with Private 875 SF Yard
Apartment 1R is a spacious legal duplex with direct parlor-level access to an expansive 875 SF private rear yard.
Three Rent-Stabilized Units
Three unrenovated rent-stabilized apartments provide stable in-place income with additional long-term value-add potential.
Excellent Condition & Strong Compliance Record
Fewer than 10 HPD violations in 12 years of ownership. Only two complaints in the past four years. Full collections for the entire ownership period, with no nonpayment
issues, arrears, or vacancies.
Prime Bushwick Location
Just steps from the Myrtle-Wyckoff Ave L/M trains and surrounded by Bushwick’s vibrant retail, dining, galleries, and nightlife.

319 Menahan Street offers investors a true turnkey opportunity—three high-performing renovated units with significant capital investment, complete
documentation, low-maintenance operations, protected stabilized income, and clear value-add potential through preferential rent recapture and future
repositioning of remaining units.

Block & Lot:

03310-0055
Neighborhood:

Bushwick
Cross Streets:

Irving Ave & Wyckoff Ave
Building Dimensions:

24.5 ft x 65 ft
Lot Dimensions:

24.5 ft x 100 ft
Units:

6
Total Approx. SF:

5,350
Zoning:

R6
FAR:

2.43
Tax Class:

2A