Description

A rare opportunity to acquire a fully stabilized, income-producing condominium in the heart of Boerum Hill, one of Brooklyns most supply-constrained and historically resilient brownstone neighborhoods. 94 Wyckoff Street Unit 1R/1L combines long-term in-place income, low operating overhead, and rare private outdoor space (exclusive use), creating a straightforward investment profile with immediate cash flow and no lease-up risk, while preserving long-term ownership flexibility.

This legally combined residence is configured as a true 2-bedroom, 2-bathroom home offering approximately 950 square feet of interior living space with direct access to an approximately 1,123 square foot exclusive private garden- an increasingly scarce amenity that supports both tenant retention and long-term resale demand. Additional features include oversized private basement storage (the largest storage space in the building) and placement within an intimate 6-unit townhouse-style condominium with no doorman or amenity burden. In addition to in-unit laundry, there is also shared laundry in the basement.

The apartment is currently leased to long-term tenants at $6,250 per month through August 2028, generating $75,000 in annual gross income. Annual operating costs include approximately $11,011 in common charges, $9,386 in real estate taxes, and a $1,200 annual leasing/admin expense ($100/month), resulting in total annual expenses of approximately $21,598 and a net annual operating income of approximately $53,402.

At an asking price of $1,595,000, the asset represents an approximate 3.35% cap rate inclusive of all expenses. The extended lease term provides predictable income from day one and reduced near-term vacancy exposure, while condominium ownership offers straightforward long-term hold and future use flexibility at lease maturity.

For buyers seeking stable cash flow in a high-demand brownstone Brooklyn location, this offering presents a rare balance of income stability, operational simplicity, and long-term value.

The unit is renter-occupied through August of 2028. Please call for more specifics, or to set up a viewing.



Listing courtesy of Living New York ...
More