565 Chauncey StBrooklyn, NY 11233

Property Details for 565 Chauncey St

Property size (Sq ft)

2,633 SF

Property type

Apartment buildings

Description

This meticulously maintained three-story, three-unit apartment building in Brooklyn, NY, presents a compelling investment opportunity. Located at 565 Chauncey Street, this 2,633 square foot property boasts a strong 5.58% cap rate and a net operating income (NOI) of $97,605. The building benefits from efficient layouts enhanced by a large air shaft, ensuring bright and spacious units. Situated on a tranquil, tree-lined block, it offers convenient access to public transportation, including the J & Z trains (one block away), the L train (six blocks), and the C train (five blocks). The R6/C2-3/2.20 zoning permits a variety of uses. The property is fully free-market, allowing for future appreciation based on neighborhood improvements. Its renovated condition minimizes the need for immediate capital expenditures, making it an attractive option for owner-occupancy, with the potential to live in one or more units while generating rental income from the others. The asking price is $1,750,000. This is a rare opportunity to acquire a well-maintained, high-yield multifamily property in a desirable Brooklyn location.

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6826

Longitude

-73.9122

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