278 Chauncey Street,Brooklyn, NY 11233
Brooklyn, NY 11233
Description
Value-Add Multifamily Investment | Approx. 10% Cap Rate Exceptional opportunity to acquire an 8-unit brick multifamily building in the heart of Stuyvesant Heights, Brooklyn. This four-story walk-up offers approximately 6,300 square feet on a 25' x 100' lot and consists of eight spacious railroad-style two-bedroom apartments, each featuring a full kitchen and bathroom. The property includes a full basement and is zoned R6B. This is an outstanding value-add investment with immediate income and tremendous upside. Several apartments have already been renovated, while the remaining units provide an excellent opportunity for an investor to complete renovations, reposition the asset, and significantly enhance rental income and overall value. With a projected 10% cap rate, this property presents an attractive opportunity for investors seeking both strong in-place cash flow and long-term appreciation. Whether you're looking to expand your portfolio or execute a strategic repositioning, this building offers exceptional potential. Property Highlights 8 Residential ApartmentsEight (8) Two-Bedroom Railroad UnitsBrick Façade ConstructionApproximately 6,300 SFFour Stories with Full BasementR6B ZoningStrong Income-Producing AssetExcellent Value-Add / Repositioning OpportunitySignificant Upside Through RenovationsIdeal for Investors Seeking Cash Flow and AppreciationSeller Extremely Motivated Ideally located in one of Brooklyn's most desirable and rapidly appreciating neighborhoods, the property is surrounded by restaurants, shopping, parks, schools, and convenient public transportation.
Details
| MLS # | 1028149 |
|---|---|
| Listing Type | For Sale |
| Style | Multi-Family |
| Sub-Type | Resale |
| Status | Active |
| Year | 1920 |
| Days On Site | 99 |
| Listing Provided By | Exit Realty First Choice | Steven S. Benshabat |
Features
| SQ Feet | 6,300 |
|---|---|
| Basement | Y |
| Story(s) | 4 |
| Units | 8 |
| Building(s) | 1 |
| Zoning | R6B |
| Acreage | 0.06 |
Interior
| Cooling | None |
|---|---|
| Heating | Baseboard |
Exterior
| Construction Materials | Brick |
|---|
Parking
| Parking Features | Assigned |
|---|
Utilities
| Utilities | See Remarks |
|---|---|
| Sewer | Public Sewer |
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Assessed Value | 779850 |
| Tax Annual Amount | 9591.72 |
Area Information
| State | NY |
|---|---|
| County | Kings (Brooklyn) |
| City | Brooklyn |
| Zip Code | 11233 |
| School District | Contact Agent |
| Elementary School | Contact Agent |
| High School | Contact Agent |
| Listing VS Median (in 11233) | |
Price: $1,200,000 low | high Med: $1,200,000 sqft: 6,300 low | high Med: 3,710 $ / sqft: $190 low | high Med: $631 On site: 99 low | high Med: 79 | |
Market Activity 11233
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| State | NY |
|---|---|
| County | Kings (Brooklyn) |
| City | Brooklyn |
| Zip Code | 11233 |
| School District | Contact Agent |
| Elementary School | Contact Agent |
| High School | Contact Agent |
| Listing VS Median (in 11233) | |
Price: $1,200,000 low | high Med: $1,200,000 sqft: 6,300 low | high Med: 3,710 $ / sqft: $190 low | high Med: $631 On site: 99 low | high Med: 79 | |
270 Main Street
Cornwall, NY 12518
845-534-7874
Hours of Operation
Specializing in Buying and
Selling Real Estate in Cornwall,
NY and surrounding areas.
Fair House Notice
SOP for Purchasers of Real Estate
