- Cap Rate
- 14.5%
- IRR
- 15%
- Purchase Price
- $275K
Overview
A major alteration of a four-unit apartment building on Monroe Street in Brooklyn, NY, held as an income property. Purchased for $275K and renovated for $250K, the project was completed in June 2016 and runs at a 14.5% cap rate on cash flow.
Income Snapshot
Rental PropertyCap Rate
14.5%
- Purchase Price
- $275K
- Construction Cost
- $250K
- IRR
- 15%
- Units
- 4
- Size
- 3,000 sq ft
Income Performance
- Cap Rate
- 14.5%
- IRR
- 15%
- Cost Basis
- $525K
Total cost$525K
Purchase $275KConstruction $250K
Figures as reported in the Prime Equity portfolio. Past performance is not indicative of future results.
Gallery
Property Details
- Project Type
- Alteration Type I (major)
- Property
- 4-unit apartment building
- Completed
- June 2016
Invest With Prime Equity
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