Brooklyn Multifamily Investment
198 Hull Street Brooklyn, NY 11233
198 Hull Street, Brooklyn, NY, 11233
$2,000,000
For Sale
$2,000,000
MULTI_FAMILY - Other - Brooklyn, NY
Property Size5,400 SF
Lot Size0.06 Acres
Price / SF$370.37
Days on Market52
Property Features for 198 Hull Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R6
- Rooms
- Basement
- Parking features
- On Street
- Fencing
- Fenced
- Standard status
- Active
- APN
- 3-01540-0016
- Size
- 5,400 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 8970
Utilities
- Sewer type
- Public Sewer
- Heating system
- Oil
- Cooling system
- Window Unit(s), Wall/Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1910
- Floors in Building
- 3
- Number of units
- 6
- Building materials
- Brick
- Architectural style
- Other
Listing Agency
Douglas Elliman Real Estate
(516) 621-3555
1528 Old Northern Blvd, Huntington Station, NY
Listed by
Moin Siddiqui · License #10401259946
(917) 900-7394
Added: May 26 Checked: Jul 16 at 5:06 pm
MLS# 1004962
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This six-family brick multifamily property is located in the Bed-Stuy/Ocean Hill section of Brooklyn. Constructed in 1908, the building encompasses approximately 5,400 square feet on a 25-foot by 100-foot lot. It comprises six apartments, each featuring two bedrooms, one bathroom, and additional home office space. The building is equipped with electric, roof, and gas boiler systems, and includes an onsite superintendent. Convenient access to the A, C, J, Z, and L subway lines facilitates connectivity throughout Brooklyn and Manhattan. The property is classified as Tax Class 2A, which may help limit future property tax increases, subject to applicable laws and regulations. The R6 zoning may offer future development or community facility potential, subject to verification and approvals by all relevant governmental authorities. Positioned near Bed-Stuy, Bushwick, and Broadway Junction, this property presents an opportunity for investors seeking a well-located multifamily asset in a growing Brooklyn market.
Key Highlights
- Six spacious 2‑bedroom, 1‑bath apartments, each with additional home office space.
- Convenient access to A, C, J, Z, and L subway lines for strong connectivity to Brooklyn and Manhattan.
- Located in the Bed‑Stuy/Ocean Hill section of Brooklyn, near Bed‑Stuy, Bushwick, and Broadway Junction.
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 - Six-family brick building in Bed-Stuy/Ocean Hill with development potential.
Where is this apartment building located?
The property is located at 198 Hull Street 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 spacious 2‑bedroom, 1‑bath apartments, each with additional home office space.; Convenient access to A, C, J, Z, and L subway lines for strong connectivity to Brooklyn and Manhattan.; Located in the Bed‑Stuy/Ocean Hill section of Brooklyn, near Bed‑Stuy, Bushwick, and Broadway Junction.
