Market rate rental building, 14.5 bedrooms, 6 rental apartments, 2 vacant units available.

Full Description

Market-rate rental building featuring 14.5 bedrooms, 6 bathrooms, and 6 rental apartments, including two vacant, oversized 2-bedroom units with high ceilings. This 100% market-rate building is not rent-controlled, not rent stabilized, perfectly positioned for immediate income upside or future conversion. Well-maintained, corner 6-unit apartment building in Brooklyn. Two vacant units provide immediate flexibility for the new owner — move-in ready, rental income, or potential conversion. Ideal for investors seeking multifamily assets with value-add upside and long-term growth.

Investment Highlights

• Property Type: Fully market-rate multifamily
• Units: 6 rental apartments
• Bedrooms: 14.5
• Bathrooms: 6
• Vacancy: 2 units delivered vacant
• Neighborhood: Remsen Village / East Flatbush
• Accessibility: Stairs (no elevator)
• Parking / Outdoor: None
• Mechanical: Steam radiators, two 75-gallon hot water tanks, one boiler
• Staffing: Optional non-resident building super

Financial Overview

Current Rental Income: Monthly: $15,900    Annual Income:$190,800

Projected Rental Income: Monthly: $21,360   Annual Income:$256,320

Immediate upside potential: Vacant units allow for flexible rent-setting and income growth.

The Brooklyn rental market remains one of the strongest in the U.S., with East Flatbush and surrounding neighborhoods seeing a 10% year-over-year increase for multi-bedroom units. In East Flatbush, the median rent for 2-bedroom units has jumped 15% in the last 30 days alone, reflecting a supply-starved market. Borough-wide vacancy remains tight at 1.56%, ensuring minimal downtime for renovated units.

Conversion: Current condominium median sales near $670K+ and some sales well above $1M in broader Brooklyn support a convertible pricing strategy from ~$700K to $1M+ for larger 2–3 bedroom units. Higher-end transactions like the 138 Willoughby sale (~$2,124 psf) signal what premium well-executed condos could achieve — and in a conversion scenario with quality finishes, the MSF target may be aggressive but not unprecedented.

Building Facts

• Building Class: S9
• Stories: 3 stories + full basement (4 floors total)
• Building Sq. Ft.: 6,912
• Lot Sq. Ft.: 2,400
• Dimensions: 24 ft wide × 96 ft deep (building) | 24 ft × 100 ft (lot)
• Basement: Clean, vacant full-floor space

Zoning & Use

• Zoning District: R6
• Land Use Category: S9
• Residential Units: 6
• Community District: 317
• City Council District: 41
• Police Precinct: 67
• Fire Department: L174
• School District: 18

Contact us today for an in-person viewing.