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Prime Brooklyn Multifamily | 6.6% Cap Rate 479 Warren St 9 Unit Apartment Building $4,950,000 ($550,000/Unit) Brooklyn, NY 11217
Investment Highlights
- Prime Turnkey 9-Unit Multifamily: A meticulously maintained four-story asset in a high-demand submarket, offering a seamless entry for yield-seeking i
- 66% Free-Market Portfolio: High-yield flexibility with a majority of units exempt from rent regulation, ensuring strong immediate cash flow and long-t
- Optimized Utility Structure: All free-market units feature individual heat and hot water tanks, shifting utility burdens to tenants and boosting Net O
- Protected Tax Class 2B: Rare "protected" designation with legal caps on assessment increases—no more than 8% annually or 30% over five years—providing
- Comprehensive Capital Improvements: Significant upgrades within the last 3–5 years, including a new roof, reimagined hallways, and modernized plumbing
Executive Summary
Prime Turnkey 9-Unit Multifamily: A meticulously maintained four-story asset in a high-demand submarket, offering a seamless entry for yield-seeking investors.
Protected Tax Class 2B: Rare "protected" designation with legal caps on assessment increases—no more than 8% annually or 30% over five years—providing an essential hedge against rising operational costs.
66% Free-Market Portfolio: High-yield flexibility with a majority of units exempt from rent regulation, ensuring strong immediate cash flow and long-term appreciation.
Comprehensive Capital Improvements: Significant upgrades within the last 3–5 years, including a new roof, reimagined hallways, and modernized plumbing.
Optimized Utility Structure: All free-market units feature individual heat and hot water tanks, shifting utility burdens to tenants and boosting Net Operating Income (NOI).
Protected Tax Class 2B: Rare "protected" designation with legal caps on assessment increases—no more than 8% annually or 30% over five years—providing an essential hedge against rising operational costs.
66% Free-Market Portfolio: High-yield flexibility with a majority of units exempt from rent regulation, ensuring strong immediate cash flow and long-term appreciation.
Comprehensive Capital Improvements: Significant upgrades within the last 3–5 years, including a new roof, reimagined hallways, and modernized plumbing.
Optimized Utility Structure: All free-market units feature individual heat and hot water tanks, shifting utility burdens to tenants and boosting Net Operating Income (NOI).
Property Facts
| Price | $4,950,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $550,000 | Building Class | C |
| Sale Type | Investment | Building Size | 6,631 SF |
| No. Units | 9 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R6 | ||
| Price | $4,950,000 |
| Price Per Unit | $550,000 |
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Building Size | 6,631 SF |
| No. Stories | 4 |
| Year Built | 1920 |
| Opportunity Zone |
Yes |
| Zoning | R6 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Sprinkler System
- Range
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Security System
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 9 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 00393-0044 | Improvements Assessment | $1,474,650 |
| Land Assessment | $3,600 | Total Assessment | $1,478,250 |
Property Taxes
Parcel Number
00393-0044
Land Assessment
$3,600
Improvements Assessment
$1,474,650
Total Assessment
$1,478,250
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