481 Chauncey St 6 Brooklyn, NY 11233-2402

This well-maintained, six-unit apartment building in Brooklyn, New York, presents a compelling investment opportunity. Located at 481 Chauncey Street, this four-story, 5,537 square foot building boasts a strong 6.91% cap rate and a net operating income (NOI) of $179,788. Built in 1905 and fully renovated in 2017, the property requires no immediate capital improvements. The building benefits from a protected 2A tax class, limiting annual tax increases to a maximum of 8% or 30% over five years. Each of the six units features efficient layouts enhanced by a large air shaft providing ample light and space. The property is situated on a tranquil, tree-lined residential block, offering residents a peaceful environment. Conveniently located, it's just two blocks from the J and Z subway lines at Chauncey Street, seven blocks from the L train at Bushwick Avenue-Aberdeen, and five blocks from the C train at Rockaway Avenue. The fully free-market status allows for future ownership to capitalize on neighborhood improvements. The asking price is $2,600,000. This property is zoned R6.