96 Starr St Brooklyn, NY 11237-2282

Property Details for 96 Starr St

Year built

1931

Lot size

0.06 lot acres

Property size

4,350 SF

Zone code

R6

Property type

Apartment buildings

APN

03197-0021

APU

31970021

Description

This exceptional Class A retail property at 96 Starr St, Brooklyn, NY 11237, offers a compelling investment opportunity. The 4,350 square foot, three-story walk-up building boasts six units, a mix of four free-market and two rent-stabilized apartments, all two-bedroom, one-bathroom units. Two first-floor units are duplexed to the cellar, each featuring private outdoor space. The building benefits from protected Tax Class 2A, limiting annual property tax increases. Individual unit metering ensures tenants cover their expenses, while basement storage and laundry facilities generate approximately $500 per month in additional income. Renovated in 2012 with high-end finishes, this meticulously maintained building requires minimal capital expenditures. Located in a rapidly developing area of Bushwick, just half a block from Maria Hernandez Park, the property enjoys high demand, low turnover, and year-over-year rent growth. Its convenient location offers easy access to the L and M subway lines at DeKalb Avenue and Knickerbocker Avenue stations, providing quick commutes to all five boroughs, including a less than 35-minute trip to Grand Central Terminal. The asking price is $2,000,000, with a strong NOI of $129,572 and a 6.48% cap rate. The lot size is 2,500 square feet, and the property is zoned R6. This is a rare chance to acquire a stable, high-performing asset in a prime Brooklyn location.

Location Insight

City

Brooklyn

County

Kings

State

New York

Longitude

-73.9257

Latitude

40.7021

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments