Listed by Matthews
$1,650,000
289 Bleecker St
Details
Property Type Multifamily
Square Footage 4,875
Units 6
Beds 2
Cap Rate 7.03%
NOI $115,920
Tenancy Multi
Buildings 1
Lot Size (SqFt) 2,500
Investment Type Stabilized
Multifamily | 7.03% CAP | 6 Units
Marketing description
Bushwick, located in the northern part of Brooklyn, has a rich history that traces back to its origins as a Dutch settlement. The neighborhood underwent industrialization in the 19th century, transforming into a bustling brewery district. Today, Bushwick's industrial past is interwoven with its artistic present, evident in its iconic street art and loft-style living spaces.
This meticulously maintained multifamily investment opportunity features 6 units (2 bed / 1 bath) with 5 of 6 units rent stabilized. The property offers a 7.03% cap rate at the asking price of $1,650,000. Located in the heart of Bushwick, the property is 2-4 blocks from M & L train lines and benefits from protected 2A tax class status.
Investment highlights
- Turnkey-Opportunity: Well-maintained building with upgraded utilities allowing for little to no short-term capital improvement requirements.
- Fully Finished Basement: Currently built out as an office space, the basement offers valuable accessory or amenity space, or potential for an ADU.
- Zero Violations: This property currently has zero HPD, DOB, or ECB violations, a testament to meticulous management and minimal deferred maintenance.
- Premier Location: Located in the heart of Bushwick, this property is half a block away from Knickerbocker Avenue - a vibrant mix of acclaimed restaurants, boutique retail, and creative workspaces.
- Tax Class Protection: Designated as a 2A Tax Class property, capping tax increases at 8% annually or 30% over five years.
- Transit-Oriented Location: Located 2-4 blocks from Knickerbocker Avenue M-Line and Myrtle-Wyckoff Ave L-Line.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$115,920.00
$9,660.00/mo
Valuation Metrics
0
DSCR
7.03%
Cap Rate
7.03%
ROI
Map
Zoning
R6 ResidentialMulti FamilyGeneral Residence
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View all 99 uses
View all 99 uses Last updated Jun 22, 2026 For deeper zoning details, reports are available at Zoneomics
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Tax History
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