Six-Unit Brick Multifamily
198 Hull St Brooklyn, NY 11233
198 Hull St, Brooklyn, NY, 11233
$2,000,000
For Sale
$2,000,000
Built in 1908, this six-unit property offers spacious 2-bedroom layouts with built-in home office space.
Property Size5,400 SF
Lot Size0.06 Acres
Price / SF$370.37
Days on Market44
Property Features for 198 Hull St
General Information
- Standard status
- Active
- Size
- 5,400 SF
- Lot size
- 0.06 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1910
Listing Agency
Douglas Elliman Real Estate
(917) 900-7394
Listed by
Moin Siddiqui · License #10401259946
(917) 900-7394
Source
Elliman
Added: Jun 3 Checked: Jul 16 at 7:27 am
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
198 Hull Street is a six-family brick multifamily building built in 1908. The property is configured with six spacious 2-bedroom, 1-bath apartments, and each unit includes additional home office space. Building systems include electric service and boiler systems for both the roof and gas heat, and there is an onsite superintendent.
Located in the Bed-Stuy/Ocean Hill section of Brooklyn, the property benefits from convenient subway access to the A, C, J, Z, and L lines for connectivity throughout Brooklyn and Manhattan. The listing is also noted as Tax Class 2A, which may help limit future property tax increases subject to applicable laws and regulations. Flexible R6 zoning may allow future development or community facility potential, subject to verification and approvals by relevant governmental authorities.
This building can be a practical fit for investors or operators looking for a small, manageable multifamily asset in Brooklyn with unit layouts designed for both living and work-from-home needs. The presence of an onsite superintendent supports day-to-day building oversight, while the established six-unit structure offers an immediate rental platform under a consistent residential configuration.
Located in the Bed-Stuy/Ocean Hill section of Brooklyn, the property benefits from convenient subway access to the A, C, J, Z, and L lines for connectivity throughout Brooklyn and Manhattan. The listing is also noted as Tax Class 2A, which may help limit future property tax increases subject to applicable laws and regulations. Flexible R6 zoning may allow future development or community facility potential, subject to verification and approvals by relevant governmental authorities.
This building can be a practical fit for investors or operators looking for a small, manageable multifamily asset in Brooklyn with unit layouts designed for both living and work-from-home needs. The presence of an onsite superintendent supports day-to-day building oversight, while the established six-unit structure offers an immediate rental platform under a consistent residential configuration.
Key Highlights
- Six‑family brick multifamily at 198 Hull Street, built in 1908 (Year built listed as 1910).
- Approximately 5,400 SF on a 25’ x 100’ lot.
- Six units total: each is a 2‑bedroom, 1‑bath layout with additional home office space.
Local 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 | $305.9k | $56.64 |
| − Vacancy | −$6.1k | −$1.13 |
| EGI | $299.7k | $55.51 |
| − OpEx | −$134.9k | −$24.98 |
| NOI | $164.9k | $30.53 |
5,400 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.36M
$2.06M – $2.75M
NOI $164,856 @ 7.0% cap · market cap 8.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.47M
$3.91M – $5.22M
NOI $312,984 @ 7.0% cap · market cap 15.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Built in 1908, this six-unit property offers spacious 2-bedroom layouts with built-in home office space.
Where is this apartment building located?
The property is located at 198 Hull St Brooklyn, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Six‑family brick multifamily at 198 Hull Street, built in 1908 (Year built listed as 1910).; Approximately 5,400 SF on a 25’ x 100’ lot.; Six units total: each is a 2‑bedroom, 1‑bath layout with additional home office space.
