38 GROVE St, Brooklyn, NY 11221

Building Details

Year Built

1920

Listing office s***@corcoran.com Show Phone

Listing date Mar 11, 2026

Source Elliman

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Overview

Located on a quiet residential block in the heart of Bushwick, 38 Grove Street is a fully leased, income-producing two-family townhouse. The well-maintained building spans two stories plus a full basement and a finished attic, situated on a 25' x 83.92' lot. The property generates $102,000 in annual gross income, with both units on leases extending into 2026. With annual operating expenses of approximately $9,606, the building delivers a net operating income of $92,394 and a 5.27% cap rate. Configured as two spacious duplex residences, each unit offers multiple bedrooms, generous living and dining areas, and natural light. The apartments feature central heating and cooling, modern kitchens with full-size stainless steel appliances, and in-unit laundry. The additional attic and basement provide flexible space for tenants. Positioned within one of Brooklyn's active rental markets, 38 Grove Street offers a combination of in-place income and long-term neighborhood upside.

Suggested Use

Law Firm Real Estate Agency Parking Lot & Garage Acupuncture Nursing Home Accounting Firm Dental Office Shopping Center & Mall Nursing Home Carpet & Flooring Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Brooklyn

County

Kings

State

New York

Longitude

-73.9225

Latitude

40.6912

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FAQs

What type of property is this?

Duplex - Fully leased two-family townhouse in Bushwick with strong income.

Where is this duplex located?

The property is located at 38 GROVE St Brooklyn, NY.

What is the asking price?

The asking price for this property is $1,700,000.

What are key features of this property?

This property features: Fully leased two‑family townhouse generating $102,000 annual gross income.; Strong leases in place extending into 2026, providing stable cash flow.; Impressive $92,394 net operating income and attractive 5.27% cap rate.