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103 Grattan St 103 Grattan St 6 Unit Apartment Building $2,100,000 ($350,000/Unit) 6.91% Cap Rate Brooklyn, NY 11237
INVESTMENT HIGHLIGHTS
- Well stabilized asset
- Long term established ownership
- Great natural light
EXECUTIVE SUMMARY
Exceptional Bushwick investment opportunity! 103 Grattan Street is a well-maintained, 3-story, 6-unit multifamily building offering investors stable cash flow with meaningful upside potential.
• Total Units: 6 residential
• Configuration: 4 rent-stabilized apartments + 2 free market units
• Current Gross Rental Income (as of 6/30/25): $13,199.47/month | $158,393.64/year
Apartment Breakdown:
• Apt 1L (Super Unit): $899.99 | Lease expires 9/30/25
• Apt 1R: $1,952.00 | Lease expires 6/30/27
• Apt 2L (Free Market): $3,500.00 | Lease expires 5/31/26
• Apt 2R: $1,812.92 | Lease expires 1/31/26
• Apt 3L: $1,834.56 | Lease expires 5/31/27
• Apt 3R (Free Market): $3,200.00 | Lease expires 1/31/26
Expenses (Monthly):
• Water/Sewer: $433.54
• Fuel: $409.83
• Utilities: $83.17
• Repairs/Maintenance: $253.00
Total Monthly Expenses: $1,179.54
This building combines reliable, long-term rent-stabilized tenants with two free market units that provide strong immediate income and future growth potential. The property is ideally located in the heart of Bushwick, just steps from neighborhood dining, nightlife, art spaces, and transportation.
Offering Price: $2,100,000
• Total Units: 6 residential
• Configuration: 4 rent-stabilized apartments + 2 free market units
• Current Gross Rental Income (as of 6/30/25): $13,199.47/month | $158,393.64/year
Apartment Breakdown:
• Apt 1L (Super Unit): $899.99 | Lease expires 9/30/25
• Apt 1R: $1,952.00 | Lease expires 6/30/27
• Apt 2L (Free Market): $3,500.00 | Lease expires 5/31/26
• Apt 2R: $1,812.92 | Lease expires 1/31/26
• Apt 3L: $1,834.56 | Lease expires 5/31/27
• Apt 3R (Free Market): $3,200.00 | Lease expires 1/31/26
Expenses (Monthly):
• Water/Sewer: $433.54
• Fuel: $409.83
• Utilities: $83.17
• Repairs/Maintenance: $253.00
Total Monthly Expenses: $1,179.54
This building combines reliable, long-term rent-stabilized tenants with two free market units that provide strong immediate income and future growth potential. The property is ideally located in the heart of Bushwick, just steps from neighborhood dining, nightlife, art spaces, and transportation.
Offering Price: $2,100,000
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,100,000 | Building Class | C |
| Price Per Unit | $350,000 | Lot Size | 0.06 AC |
| Sale Type | Investment | Building Size | 6,000 SF |
| Cap Rate | 6.91% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1931 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | M1-1 - The property is ideally located in the heart of Bushwick, just steps from neighborhood dining, nightlife, art spaces, and transportation. | ||
| Price | $2,100,000 |
| Price Per Unit | $350,000 |
| Sale Type | Investment |
| Cap Rate | 6.91% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 6,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1931 |
| Opportunity Zone |
Yes |
| Zoning | M1-1 - The property is ideally located in the heart of Bushwick, just steps from neighborhood dining, nightlife, art spaces, and transportation. |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | 1,000 |
1 1
Walk Score®
Walker's Paradise (93)
Transit Score®
Rider's Paradise (93)
Bike Score®
Very Bikeable (88)
PROPERTY TAXES
| Parcel Number | 03004-0036 | Total Assessment | $630,900 (2025) |
| Land Assessment | $6,300 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $624,600 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
03004-0036
Land Assessment
$6,300 (2025)
Improvements Assessment
$624,600 (2025)
Total Assessment
$630,900 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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