824 Dekalb Ave Brooklyn, NY 11221

Property Details for 824 Dekalb Ave

Property size

4,268 SF

Property type

Commercial real estate

Description

This exceptional turnkey multifamily investment property in Brooklyn's Bedford-Stuyvesant neighborhood presents a compelling opportunity. The building comprises four units: a spacious four-bedroom, two-bathroom duplex with a finished basement and private backyard, and three generously sized three-bedroom, two-bathroom units. Each unit features modern kitchens with stainless steel appliances (including gas stoves and dishwashers), hardwood floors, high ceilings, and a video intercom system. The building boasts a shared rooftop and a virtual doorman. Totaling 4,268 square feet, the property sits on a single building, five stories high, and is currently 100% occupied with leases extending into 2025. One unit includes an in-unit washer/dryer, offering potential for increased rental income by adding this amenity to other units. The property features a strong 5.84% cap rate, with a Net Operating Income (NOI) of $145,604 and an asking price of $2,495,000. Current rents are competitive and below market rates, presenting significant potential for future rental growth. The property is zoned R6 and is held under an LLC ownership structure. Low property taxes contribute to excellent operating cost efficiency. This recently renovated (six years ago) building is in excellent condition, minimizing maintenance costs and maximizing return on investment. The property offers immediate income and substantial long-term growth potential.