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31691334
31691341

487 Hart St, Brooklyn, NY 11221

JH
10401234914
The Corcoran Group Brooklyn
Listed by The Corcoran Group Brooklyn
$1,299,000
55 days on market
Updated 8 days ago

487 Hart Street 2 Family in Bushwick

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 1,680
Units 2
Cap Rate 7.21%
NOI $93,600
Occupancy 100%
Pro-Forma Cap Rate 7.21%
Pro-Forma NOI $93,600
Price per SqFt $773
Broker Co-Op Yes
Class A
Year Built 1901
Year Renovated 2021
Stories 3
Lot Size (SqFt) 1,500
Zoning B2
Investment Type Owner/User
Occupancy Date 04/15/2026
Ground Lease No

7.2% Cap Rate 2 Family in Prime Bushwick

Marketing description

487 Hart Street - Turnkey Two-Family Investment Opportunity in Prime Brooklyn

Welcome to 487 Hart Street, a well-maintained two-family stucco townhouse set on a 20 x 75 lot, offering an exceptional opportunity for both investors and end users alike. With 1,680 square feet of interior space and strong existing cash flow, this property is great for those seeking income potential with low monthly carrying costs.

The home is currently configured as two income-producing rental units, generating $93,600 annually with additional upside and a strong 6% cap rate.

The first-floor residence is a spacious 3-bedroom, 1-bath duplex featuring hardwood floors throughout, ceramic tile flooring in the lower level, and direct access to a private backyard

The top-floor apartment offers a bright 2-bedroom, 1-bath layout with hardwood floors and a skylight that fills the home with natural light.

Both units have been thoughtfully updated with renovated kitchens and bathrooms, making this a true turnkey asset.

Perfectly suited for an investor seeking immediate returns or an end user looking to offset ownership costs with rental income, 487 Hart Street presents a rare opportunity in a great location.

Investment highlights

Unit 1 - $4100/mo 3 bed 1.5 bath duplex + yard

Unit 2 - $3700/mo 3 bed 1 bath

Can be delivered vacant

Listing Contacts

JH
10401234914
The Corcoran Group Brooklyn
Listed by The Corcoran Group Brooklyn

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$93,600.00
$7,800.00/mo

Valuation Metrics

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DSCR
7.21%
Cap Rate
7.21%
ROI

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