1711 E 3rd St 6 Unit Apartment Building $2,900,000 ($483,333/Unit) 7.17% Cap Rate Brooklyn, NY 11223

Welcome to 1709 & 1711 East 3rd Street, two newly gut-renovated six-family buildings located on a prime tree-lined block in the heart of Midwood, Brooklyn. Delivered in 2024, these turnkey multifamily assets present a rare opportunity to acquire two fully free-market buildings with strong in-place income, modern construction quality, and long-term upside potential.
Each building consists of six spacious units featuring a highly desirable unit mix of large 2-bedroom, 2-bathroom apartments and a premium 3-bedroom, 2.5-bathroom duplex with a fully finished basement. The properties were thoughtfully designed with modern layouts, high-end finishes, and amenities that continue to drive strong tenant demand in the Midwood rental market.
Every apartment features central heating and air conditioning, in-unit washer and dryer, hardwood flooring, oversized windows with abundant natural light, and expansive open-concept living and dining areas. The kitchens are outfitted with quartz countertops, stainless steel appliances, custom cabinetry, and dishwashers, while the bathrooms feature sleek contemporary finishes and modern fixtures throughout.
The buildings are fully leased and 100% free market, offering investors stable cash flow with future rental upside. Additional highlights include low operating expenses, tenant-paid heat and electric, shared driveway parking, and beautifully maintained common areas.
Unit Breakdown:
• First Floor Duplex: 3 bedrooms, 2.5 bathrooms, spacious duplex layout with a fully finished basement, oversized living and dining area, large bedrooms with excellent closet space, and a modern chef’s kitchen with quartz countertops and stainless steel appliances.
• All Other Units: Spacious 2 bedroom, 2 bathroom layouts featuring open-concept living and dining areas, oversized windows with excellent natural light, contemporary kitchens with custom cabinetry and quartz countertops, modern bathrooms with elegant finishes, hardwood floors, and central air throughout.
Property Highlights:
• 6-family building per property | 12 units total
• Fully gut renovated in 2024
• 100% free-market apartments
• Strong in-place income with additional upside potential
• Central HVAC in every unit
• In-unit washer/dryer in all apartments
• Shared driveway with private parking
• Low operating expenses with tenant-paid utilities
• Available individually or as a portfolio package
Located just moments from the F train, Avenue P, Kings Highway, Ocean Parkway, shopping, restaurants, and neighborhood conveniences, 1709 & 1711 East 3rd Street are ideally positioned within one of Brooklyn’s most established and consistently performing rental markets.
Buildings can be purchased individually or together. Asking price is $2.9M per building.