253 Stanhope StBrooklyn, NY 11237

This exceptional 7-unit apartment building, located at 253 Stanhope Street in the heart of Bushwick, Brooklyn, presents a compelling investment opportunity. The property boasts a desirable 6.13% cap rate and is currently 100% occupied, offering immediate cash flow. Built in 1931 and extensively renovated in 2017, this three-story walk-up building comprises a mix of studio, one-bedroom, and two-bedroom apartments. Six units are free-market, while one unit is rent-stabilized. The renovations included a complete gut renovation of all apartments, featuring new flooring, framing, drywall, doors, upgraded electrical and plumbing systems, custom kitchens, and modern bathrooms. Building-wide improvements encompass central heating and air conditioning, new furnaces, split systems, new windows, roof replacement, sump pumps, updated storage closets, and hallway upgrades. Apartment features vary, with some units offering in-unit washer/dryers and additional features like rec rooms or dens. The building's prime location is just four blocks from Maria Hernandez Park and one block from Wyckoff Heights Medical Center, placing it within easy reach of amenities and public transportation. The property is classified as Tax Class 2A, ensuring predictable and controlled property tax increases. This is a rare opportunity to acquire a fully leased, well-maintained multifamily property in a rapidly appreciating Brooklyn neighborhood. The total square footage is 4,875 square feet. Detailed renovation lists are available upon request.