234 Norwood AveBrooklyn, NY 11208

Property Details for 234 Norwood Ave

Year built

2024

Property size (Sq ft)

8,296 SF

Property type

Apartment buildings

Description

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.

Location Insight

City

Brooklyn

County

Kings (Brooklyn)

State

New York

Latitude

40.6803

Longitude

-73.8792

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