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)
Mechanical: Steam radiators, two 75-gallon hot water tanks, one boiler
Contact us today for an in-person viewing
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
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
Zoning & Use
Contact us today for an in-person viewing.
