Turn-Key Ocean Hill Investment
305 SUMPTER ST Brooklyn, NY 11233
For Sale
Contact for pricing
Nine-unit new development in Bedford-Stuyvesant with strong income potential.
Property Size6,084 SF
Price / SF$607.99
Days on Market72
Property Features for 305 SUMPTER ST
General Information
- Standard status
- Active
- Size
- 6,084 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2018
Listing Agency:
Capri Jet Realty Corp
(718) 388-2188
Listed By:
Robert Napolitano · License #NY 31NA0992911
Source:
Crexi
Added: May 16
Changed: Jul 10
Last Checked: Jul 23 at 8:38AM
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 Capri Jet Realty Corp
Investment Insights
Based on property information with market context.
This is a turnkey, nine-unit new development completed in 2021, located in the Bedford-Stuyvesant rental market. The building features a modern brick and stucco façade. The unit mix includes three free-market two-bedroom units with balconies, three affordable housing two-bedroom units with balconies, two free market one-bedroom/1.5-bathroom duplexes (one with private outdoor space), and one premier free market one-bedroom penthouse with two levels of private outdoor terraces and unobstructed Manhattan skyline views. Residences feature 11-foot ceilings, hardwood flooring, granite countertops, stainless steel GE appliances with dishwashers, and private balconies in select units. The property includes a common backyard, panoramic rooftop deck, and basement laundry facilities. The property has a 421A Tax Abatement in place until 2056. The location is three blocks from the J train at Chauncey Street, four blocks from the A/C at Rockaway Avenue, and six blocks from the L train at Bushwick Avenue. Nearby are All Night Skate, Dolly’s Coffee Shop, Kaiff Juice & Coffee, Marion Hopkinson Playground, and Peaches. The property has a Net Operating Income (NOI) of $276,981 annually. It features stabilized tenancy with six free-market units and three affordable units. The building has Mitsubishi split units, low maintenance plumbing fixtures, AO Smith Water Heaters under warranty, and energy-efficient LED lighting throughout. The property size is 6084 square feet.
Key Highlights
- Turn‑key 9‑unit new development (completed in 2021) in prime Ocean Hill/Bedford‑Stuyvesant location.
- Strong income‑producing property with $276,981 Net Operating Income (NOI) annually and stabilized tenancy.
- Desirable unit mix including free‑market and affordable housing units, some with balconies, duplexes, and a penthouse with private outdoor terraces and Manhattan skyline views.
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 | $344.6k | $56.64 |
| − Vacancy | −$6.9k | −$1.13 |
| EGI | $337.7k | $55.51 |
| − OpEx | −$152.0k | −$24.98 |
| NOI | $185.7k | $30.53 |
6,084 SF · lease $56.64/SF/yr · vacancy 2.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.65M
$2.32M – $3.10M
NOI $185,738 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.04M
$4.41M – $5.88M
NOI $352,629 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Nine-unit new development in Bedford-Stuyvesant with strong income potential.
Where is this apartment building located?
The property is located at 305 SUMPTER ST Brooklyn, NY.
What is the asking price?
The asking price for this property is $3,699,000.
What are key features of this property?
This property features: Turn‑key 9‑unit new development (completed in 2021) in prime Ocean Hill/Bedford‑Stuyvesant location.; Strong income‑producing property with $276,981 Net Operating Income (NOI) annually and stabilized tenancy.; Desirable unit mix including free‑market and affordable housing units, some with balconies, duplexes, and a penthouse with private outdoor terraces and Manhattan skyline views.
