Brooklyn 4-Story 31-Unit Multifamily 1463 E 3rd St 31 Unit Apartment Building $5,250,000 ($169,355/Unit) 5.96% Cap Rate Brooklyn, NY 11230

Investors have the chance to acquire a 31-unit multifamily property located in Midwood/Flatbush.

1463 E 3rd Street stands out as a prime investment opportunity in Brooklyn, offering an expansive 22,600 square feet spread over four stories. The building sits on a peaceful, tree-lined street, providing residents with both privacy and a tranquil living environment. It includes a mix of apartments: 23 one-bedroom units, seven two-bedroom units, and one three-bedroom unit. Built in 1927, this pre-war structure is a longstanding part of the neighborhood. With its straightforward brick façade, the property requires minimal upkeep, making it appealing to investors. The interior features an elegant lobby accented with crown molding and intricate ceiling details. Each apartment offers generous space for residents to personalize their homes. Buyers can benefit from existing rental income and potentially lease vacant units at current market rates.

This property is strategically situated within Brooklyn, offering excellent walkability, bicycle accessibility, and proximity to mass transit options. This location is known for its charm, with tall brick buildings complemented by wrought-iron fire escapes, while wide sidewalks guide pedestrians past well-regarded neighborhood bakeries, delicatessens, and boutiques. Additionally, the area's tree-lined streets impart a suburban ambiance. Multiple subway stations are conveniently distributed throughout, providing approximately a 45-minute commute to Manhattan. Brooklyn College is located just beyond this neighborhood.