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137 Nelson St 8 Unit Apartment Building $5,500,000 ($687,500/Unit) 6.05% Cap Rate Brooklyn, NY 11231
Investment Highlights
- Free Market
- 1031 Ready
- Low Vacancy
- Renovated
- Fully Occupied
- Exposed Brick
Executive Summary
A rare opportunity to acquire a fully renovated 8-unit free-market asset in one of Brooklyn’s most desirable neighborhoods. This building underwent a full gut renovation to condo-level specifications and has since been held as a rental with professional management and excellent tenant retention.
Each unit features modern finishes, stainless steel appliances, in-unit laundry, and efficient layouts designed for long-term rental performance. With extremely low maintenance and real estate taxes compared to similar investment assets, the property delivers robust in-place cash flow with upside through pro forma rent adjustments as leases roll over in 2026.
Located in a high-demand submarket with consistent rental velocity, this offering is ideal for investors seeking a stabilized, low-risk, high-yield asset with long-term appreciation potential. Bonus depreciation and accelerated cost recovery strategies further enhance after-tax returns for qualified buyers.
Contact me for a full property set up
Each unit features modern finishes, stainless steel appliances, in-unit laundry, and efficient layouts designed for long-term rental performance. With extremely low maintenance and real estate taxes compared to similar investment assets, the property delivers robust in-place cash flow with upside through pro forma rent adjustments as leases roll over in 2026.
Located in a high-demand submarket with consistent rental velocity, this offering is ideal for investors seeking a stabilized, low-risk, high-yield asset with long-term appreciation potential. Bonus depreciation and accelerated cost recovery strategies further enhance after-tax returns for qualified buyers.
Contact me for a full property set up
Financial Summary (Actual - 2025) 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 - 2025) 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 | $5,500,000 | Property Subtype | Apartment |
| Price Per Unit | $687,500 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.05% | Lot Size | 0.03 AC |
| Gross Rent Multiplier | 17 | Building Size | 6,200 SF |
| No. Units | 8 | No. Stories | 5 |
| Property Type | Multifamily | Year Built/Renovated | 1931/2016 |
| Zoning | R6B - R6 is a medium-density residential zoning district. | ||
| Price | $5,500,000 |
| Price Per Unit | $687,500 |
| Sale Type | Investment |
| Cap Rate | 6.05% |
| Gross Rent Multiplier | 17 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.03 AC |
| Building Size | 6,200 SF |
| No. Stories | 5 |
| Year Built/Renovated | 1931/2016 |
| Zoning | R6B - R6 is a medium-density residential zoning district. |
Amenities
Unit Amenities
- Dishwasher
- Washer/Dryer
- Kitchen
- Oven
Site Amenities
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1.5 | 1 | - | - |
| 1+1 | 6 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 00377-0058 | Total Assessment | $1,612,350 (2026) |
| Land Assessment | $135,000 (2026) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,477,350 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
00377-0058
Land Assessment
$135,000 (2026)
Improvements Assessment
$1,477,350 (2026)
Total Assessment
$1,612,350 (2026)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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137 Nelson St
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