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1337 Fulton St
Brooklyn, NY 11216
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Prime corridor location with excellent commercial visibility along one of Brooklyn’s highest-traffic retail streets.
- Stable income stream from six rent-stabilized units under HASA, plus a ground-floor commercial tenant.
- Ideal mixed-use configuration offering both investor appeal and attractive owner-user flexibility.
- Strong transit access with the A and C subway lines and B44 bus steps away, providing quick connectivity to Manhattan.
- Significant upside potential through rent growth, unit reconfiguration, and use of available air rights.
- Consistent neighborhood demand driven by dense residential population and strong local retail ecosystem.
Executive Summary
1337 Fulton Street presents a compelling opportunity for investors seeking a mixed-use asset in one of Brooklyn’s most active commercial corridors. Positioned between Nostrand Avenue and Verona Place, the property benefits from exceptional daily foot traffic and seamless transit access, making it highly desirable for both residential tenants and ground-floor commercial operators. The surrounding Fulton Street retail district continues to strengthen with national brands, neighborhood retail, food service, banking, and daily-needs operators drawing a steady consumer base.
The four-story structure includes a full-floor commercial space occupying both the street level and basement, supported by six well-configured one-bedroom apartments above. Each residential unit enjoys generous natural light, high ceilings, and functional layouts with separately metered gas and electric, aligning with cost-efficient operations. All apartments are occupied by HASA tenants, providing predictable, program-backed income. The existing commercial tenant pays $6,500 monthly with lease expiration in September 2026, and market conditions suggest additional upside at renewal.
Investors will appreciate the property’s multiple value-add levers, including the potential to combine units, transition them to free-market status, or explore added development through approximately 1,520 square feet of unused air rights. The building’s brick façade, dual fire escapes, and well-maintained roof further enhance long-term stability. With projected rents indicating notable income growth and a favorable cap rate relative to the submarket, 1337 Fulton Street stands out as a strategically located asset with strong fundamentals and measurable near-term appreciation potential.
Whether held as a stable income property or repositioned to unlock its full market value, this offering provides an exceptional foothold in a consistently high-demand Brooklyn neighborhood.
The four-story structure includes a full-floor commercial space occupying both the street level and basement, supported by six well-configured one-bedroom apartments above. Each residential unit enjoys generous natural light, high ceilings, and functional layouts with separately metered gas and electric, aligning with cost-efficient operations. All apartments are occupied by HASA tenants, providing predictable, program-backed income. The existing commercial tenant pays $6,500 monthly with lease expiration in September 2026, and market conditions suggest additional upside at renewal.
Investors will appreciate the property’s multiple value-add levers, including the potential to combine units, transition them to free-market status, or explore added development through approximately 1,520 square feet of unused air rights. The building’s brick façade, dual fire escapes, and well-maintained roof further enhance long-term stability. With projected rents indicating notable income growth and a favorable cap rate relative to the submarket, 1337 Fulton Street stands out as a strategically located asset with strong fundamentals and measurable near-term appreciation potential.
Whether held as a stable income property or repositioned to unlock its full market value, this offering provides an exceptional foothold in a consistently high-demand Brooklyn neighborhood.
Property Facts
| Price Per Unit | $350,000 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.32% | Lot Size | 0.04 AC |
| Gross Rent Multiplier | 11.25 | Building Size | 6,400 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1910 |
| Zoning | C4-5D, R7D - R7D (4.2) with a C2-4 Overlay (2.0) Height Limit 100’ | ||
| Price Per Unit | $350,000 |
| Sale Type | Investment |
| Cap Rate | 7.32% |
| Gross Rent Multiplier | 11.25 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 6,400 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1910 |
| Zoning | C4-5D, R7D - R7D (4.2) with a C2-4 Overlay (2.0) Height Limit 100’ |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
Property Taxes
| Parcel Number | 01849-0036 | Improvements Assessment | $413,550 |
| Land Assessment | $26,550 | Total Assessment | $440,100 |
Property Taxes
Parcel Number
01849-0036
Land Assessment
$26,550
Improvements Assessment
$413,550
Total Assessment
$440,100
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