234 Norwood AveBrooklyn, NY 11208

For Sale
$2,699,000

New Construction, High Occupancy, Strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
95
This exceptional investment opportunity presents a brand-new, six-unit apartment building at 234 Norwood Avenue in Brooklyn, New York. Completed in 2024, the property boasts 8,296 square feet across three stories, situated on a desirable 6,042 square foot lot. All six units are currently 100% occupied, generating a substantial Net Operating Income (NOI) of $232,000 and an attractive 8.60% capitalization rate. The building is classified as a Core+ investment, offering a stable and promising return. Each unit is a spacious two-bedroom apartment, featuring ceiling heights ranging from 8 to 10 feet. The building's convenient location, just one block from the Norwood Avenue subway station on a tree-lined street, ensures high demand and ease of access for tenants. The asking price for this turnkey investment property is $2,699,000. This represents a rare opportunity to acquire a high-performing, newly constructed multifamily asset in a thriving Brooklyn neighborhood. The property's strong financials, combined with its desirable location and modern construction, make it an ideal addition to any investment portfolio. The building's excellent condition and high occupancy rate minimize immediate management concerns, allowing for a smooth transition for the new owner.

Highlights

  • Brand-new, six-unit apartment building in Brooklyn, NY, completed in 2024.
  • 8,296 square feet on a 6,042 square foot lot.
  • 100% occupied, generating $232,000 NOI and an 8.60% cap rate.
  • Six spacious two-bedroom units.
  • Located one block from the Norwood Avenue subway station.
  • Asking price: $2,699,000.

Property Details for 234 Norwood Ave

Property type
Multifamily properties, Apartment buildings
Square Feet
8,296 SF
Year Built
2024
Buildings
1
Stories
3
Units
6

Location Insight

City
Brooklyn
County
Kings (Brooklyn)
State
New York
Latitude
40.6803452
Longitude
-73.8791907
234 Norwood Ave, Brooklyn, New York

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234 Norwood Ave
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