Renovated 8-Family Building in
For Sale
$6,000,000
Pending
238 Sackett St, Brooklyn, NY 11231
Meticulously maintained, income-producing property in a desirable Brooklyn neighborhood.
Property Size6,384 SF
Lot Size0.06 Acres
Days on Market145
Property Features for 238 Sackett St
General Information
Standard status
Pending
Size
6,384 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Building Details
Year Built
1920
Listing Agency:
J.Milo Real Estate,Ltd.
(718) 872-9300
Listed By:
Jenine Milo
(718) 872-9300
Source:
Elliman
Added: Mar 11
Changed: Jul 6
Last Checked: Aug 1 at 7:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of J.Milo Real Estate,Ltd.
Investment Insights
Based on property information with market context.
This fully renovated 8-family property is located on a tree-lined block in Carroll Gardens. The brick building combines historic Brooklyn charm with modern updates. Each of the eight residences has been completely renovated within the past 4–5 years, featuring updated kitchens, contemporary baths, hardwood floors, and refined finishes. The building is maintained in pristine condition, with recent upgrades including a brand-new boiler, refreshed common areas, and updated mechanical systems. The property offers approximately 6,384 square feet of living space. With three upcoming vacancies, this property presents an opportunity for future customization or capturing premium market rents. Located moments from Court Street's cafes, boutique shops, and restaurants, the property also offers convenient access to the F and G trains, connecting residents easily to Manhattan and the rest of Brooklyn. It is an income-producing property in one of Brooklyn’s most desirable neighborhoods.
Key Highlights
- Fully renovated, turnkey 8‑family building in prime Carroll Gardens location.
- All 8 units renovated within the last 4‑5 years with updated kitchens, baths, and refined finishes.
- Three vacant units at closing offer immediate customization or increased rental income potential.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $361.6k | $56.64 |
| − Vacancy | −$7.2k | −$1.13 |
| EGI | $354.4k | $55.51 |
| − OpEx | −$159.5k | −$24.98 |
| NOI | $194.9k | $30.53 |
6,384 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.78M
$2.44M – $3.25M
NOI $194,897 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.29M
$4.63M – $6.17M
NOI $370,017 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,034
Businesses Nearby
Explore this area
Business Placement
Demographics for 11231, NY
37,240
Population
18,265
Households
2
Avg Household Size
37
Median Age
69%
College-Educated
90%
High-School Grad
1.4 sq mi
ZIP Area
26,600
Density / Sq Mi
$138,485
Median Household Income
$85,791
Median Earnings
$2,474
Median Rent
$1,678,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Meticulously maintained, income-producing property in a desirable Brooklyn neighborhood.
Where is this apartment building located?
The property is located at 238 Sackett St Brooklyn, NY.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Fully renovated, turnkey 8‑family building in prime Carroll Gardens location.; All 8 units renovated within the last 4‑5 years with updated kitchens, baths, and refined finishes.; Three vacant units at closing offer immediate customization or increased rental income potential.
