Description
Rent-Stabilized Fort Greene Brownstone - Cash Flowing with 5% Cap Rate
This exceptional 7-unit brownstone delivers a net operating income of $97K and an attractive 5% cap rate at asking price in one of Brooklyn's most coveted neighborhoods.
The property is fully occupied with meticulously screened and reliably paying tenants, providing immediate stability. While situated near some of Brooklyn's most desirable landmarked blocks, this property is not itself on a preserved block. With 2,000 sq ft of unused FAR, there are significant possibilities for development.
This well-preserved four-story building features soaring ceilings, original hardwood floors, opulent crown moldings, and tall windows that flood the space with natural light. All units have been consistently maintained and require no cosmetic improvements.
This rare offering combines immediate cash flow stability with significant value-add potential, making it an ideal acquisition for investors seeking both reliable current returns and future upside through strategic development.
Showings by appointment contact for building financials and additional photos: / .
Listing courtesy of Realty
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Property Details
- Other
Amenities
- Cooling: None
- Pets: Building Yes, Yes
- View: City
The Neighborhood
Fort Greene has a lot to offer.
It is both a beautiful brownstone neighborhood and an incredibly rich cultural center with fabulous restaurants, flea markets, world-renowned performance spaces, trendy boutiques, and a rich literary and artistic tradition. The neighborhood is home to the Brooklyn Academy of Arts, the country’s oldest performing arts venue. Histori ... read more
