New York, NY 11233

Property

Ownership: For Sale
Type: Multi-Family
Bedrooms: Studio
Pets: Pets No

Financials

Price:$4,700,000
Annual Taxes:$1,631
Listing Courtesy of Capri Jet Realty Corp

Description

Turn-Key 9-Unit Investment Opportunity in Prime Ocean Hill! Introducing 305 Sumpter Street, a turnkey 9-unit new development completed in 2021, ideally positioned in the high-demand Bedford-Stuyvesant rental market. Constructed with a modern brick and stucco façade, this asset offers investors a stable, income-producing property with significant long-term upside. The building features a desirable NINE unit mix: - Three free-market 2BR units with balcony; Three affordable housing 2BR units with balcony - Two free market 1BR/1.5BTH duplexes (one with private outdoor space) - One premier free market 1BR penthouse with two levels of private outdoor terraces and unobstructed Manhattan skyline views All residences are outfitted with tenant-preferred finishes including 11’ ceilings, hardwood flooring, granite countertops, stainless steel GE appliances (with dishwasher), and private balconies in select units. Every unit is filled with natural light and designed for maximum tenant retention. Financial Highlights: - Net Operating Income (NOI): $260,000 annually - Stabilized tenancy with 6 free-market units and 3 affordable units (curated by owner) - Low maintenance costs supported by energy-efficient LED lighting throughout - Strong amenity package including common backyard, panoramic rooftop deck, and basement laundry facilities - New 421A Tax Abatement in place until 2056 Just 3 blocks from the J train at Chauncey St, 4 blocks from the A/C at Rockaway Ave, and 6 blocks from the L train at Bushwick Ave, ensuring exceptional connectivity across Brooklyn and Manhattan. The neighborhood continues to attract renters with local hot spots such as All Night Skate, Dolly’s Coffee Shop, Kaiff Juice & Coffee, Marion Hopkinson Playground, and Peaches. With an NOI of $260K, modern finishes, strong transportation access, and a prime Bed-Stuy location, 305 Sumpter Street presents investors with immediate cash flow and long-term appreciation potential in one of Brooklyn’s most dynamic neighborhoods. *Disclaimer: All Information provided is deemed reliable but is not guaranteed and should be independently verified.

Amenities

  • Back Yard
  • Balcony
  • City
  • Dishwasher
  • Dryer
  • Electricity Available
  • Electric Range
  • Laundry
  • Microwave
  • Near Public Transit
  • Near Shops
  • Refrigerator
  • Sewer Available
  • Skyline
  • Stainless Steel Appliance(s)
  • Washer
  • Water Available

Turn Key 9 Unit Investment Opportunity in Prime Ocean Hill !

View of property location featuring property parcel outlined

Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.