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2850 W 17th St 6 Unit Apartment Building $1,930,000 ($321,667/Unit) 7.98% Cap Rate Brooklyn, NY 11224
Investment Highlights
- A 100% free-market building with NO rent-stabilized apartments
- The building is entirely gas-free, eliminating the risks of gas leaks and carbon monoxide.
- Rebuilt from the ground up in 2021
Executive Summary
Prime Investment Opportunity – Turn-Key Multifamily Building in Brooklyn
Discover a rare, completely modern investment asset built from the ground up in 2021. This exceptional 6-unit multifamily building (comprising 1 studio and 5 spacious 1-bedroom apartments) offers an immediate, hassle-free revenue stream with a strong 7.98% Cap Rate and an impressive $153,958 Net Operating Income (NOI).
Investment Highlights:
100% Free-Market: A rare find in New York City—there are absolutely NO rent-stabilized apartments, giving you complete freedom over future rental upside.
Completely Gas-Free: Built to modern electrification standards, completely eliminating the risks of gas leaks and carbon monoxide, while permanently removing the burden and high costs of NYC's Local Law 152 gas piping compliance.
Low Overhead: Tenants are individually metered, keeping operating expenses exceptionally streamlined ($8,068/year).
Turn-Key Construction: 2021 masonry build with pristine finishes including quartz countertops, stainless steel appliances, hardwood floors, and high-end building amenities like a roof terrace and zen garden.
Fully occupied at 100% occupancy, this asset is perfectly positioned for a hands-off investor looking for high yield and future-proofed compliance in a thriving Brooklyn neighborhood. Contact us today for the full offering memorandum.
Discover a rare, completely modern investment asset built from the ground up in 2021. This exceptional 6-unit multifamily building (comprising 1 studio and 5 spacious 1-bedroom apartments) offers an immediate, hassle-free revenue stream with a strong 7.98% Cap Rate and an impressive $153,958 Net Operating Income (NOI).
Investment Highlights:
100% Free-Market: A rare find in New York City—there are absolutely NO rent-stabilized apartments, giving you complete freedom over future rental upside.
Completely Gas-Free: Built to modern electrification standards, completely eliminating the risks of gas leaks and carbon monoxide, while permanently removing the burden and high costs of NYC's Local Law 152 gas piping compliance.
Low Overhead: Tenants are individually metered, keeping operating expenses exceptionally streamlined ($8,068/year).
Turn-Key Construction: 2021 masonry build with pristine finishes including quartz countertops, stainless steel appliances, hardwood floors, and high-end building amenities like a roof terrace and zen garden.
Fully occupied at 100% occupancy, this asset is perfectly positioned for a hands-off investor looking for high yield and future-proofed compliance in a thriving Brooklyn neighborhood. Contact us today for the full offering memorandum.
Financial Summary (Actual - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$173,916
|
$49.17
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$173,916
|
$49.17
|
| Taxes |
$11,890
|
$3.36
|
| Operating Expenses |
$8,068
|
$2.28
|
| Total Expenses |
$19,958
|
$5.64
|
| Net Operating Income |
$153,958
|
$43.53
|
Financial Summary (Actual - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $173,916 |
| Annual Per SF | $49.17 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $173,916 |
| Annual Per SF | $49.17 |
| Taxes | |
|---|---|
| Annual | $11,890 |
| Annual Per SF | $3.36 |
| Operating Expenses | |
|---|---|
| Annual | $8,068 |
| Annual Per SF | $2.28 |
| Total Expenses | |
|---|---|
| Annual | $19,958 |
| Annual Per SF | $5.64 |
| Net Operating Income | |
|---|---|
| Annual | $153,958 |
| Annual Per SF | $43.53 |
Property Facts
| Price | $1,930,000 | Building Class | C |
| Price Per Unit | $321,667 | Lot Size | 0.06 AC |
| Sale Type | Investment | Building Size | 3,537 SF |
| Cap Rate | 7.98% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2021 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R6 - Medium Density Residential District | ||
| Price | $1,930,000 |
| Price Per Unit | $321,667 |
| Sale Type | Investment |
| Cap Rate | 7.98% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 3,537 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2021 |
| Opportunity Zone |
Yes |
| Zoning | R6 - Medium Density Residential District |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Microwave
- Storage Space
- Heating
- Tile Floors
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Views
- Wi-Fi
- Yard
- Basement
- Deck
- Dining Room
- Double Pane Windows
- Framed Mirrors
- Handrails
- Intercom
- Linen Closet
- Pantry
- Patio
- Porch
- Smoke Free
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Waterfront
- Smoke Free
- Wi-Fi
- Roof Terrace
- Zen Garden
- Private Bathroom
- Fiber Optic Internet
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 550 |
| 1+1 | 5 | - | 650 |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 07020-0029 | Total Assessment | $265,500 |
| Land Assessment | $54,000 | Annual Taxes | $11,890 ($3.36/SF) |
| Improvements Assessment | $211,500 | Tax Year | 2026 |
Property Taxes
Parcel Number
07020-0029
Land Assessment
$54,000
Improvements Assessment
$211,500
Total Assessment
$265,500
Annual Taxes
$11,890 ($3.36/SF)
Tax Year
2026
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2850 W 17th St
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