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950 Bergen Street 950-952 Bergen St 20 Unit Apartment Building $6,350,000 ($317,500/Unit) 6.15% Cap Rate Brooklyn, NY 11216
Investment Highlights
- Strong income profile with a mix of free-market and rent- stabilized apartments, providing both stable cash flow and upside potential.
- Zoned R7A with C2-4 commercial overlay, offering significant development and mixed-use potential for future repositioning.
- Well-maintained asset featuring handicap accessibility, excellent building upkeep, and consistent tenant retention.
- Many units have been renovated with modern finishes and rooftop skyline views, enhancing long-term tenant demand.
- Prime Crown Heights location, steps from multiple transit options, diverse dining, and retail—only 20 minutes to Manhattan.
Executive Summary
950-952 Bergen Street offers investors an income-generating multi-family property in the heart of Crown Heights, Brooklyn. The 20-unit building features a diverse unit mix in a very high-demand rental market.
With a price per unit of $317,500 and a price per square foot of $391, the property offers a stable investment with clear operational upside.
For investors, 950-952 Bergen Street is a premier opportunity in a highly desirable Brooklyn neighborhood, benefiting from perfect 100 Walk and Transit Scores and immediate access to major cultural hubs. The property combines immediate stabilized income with long-term growth potential.
With a price per unit of $317,500 and a price per square foot of $391, the property offers a stable investment with clear operational upside.
For investors, 950-952 Bergen Street is a premier opportunity in a highly desirable Brooklyn neighborhood, benefiting from perfect 100 Walk and Transit Scores and immediate access to major cultural hubs. The property combines immediate stabilized income with long-term growth potential.
Property Facts
| Price | $6,350,000 | Apartment Style | Low-Rise |
| Price Per Unit | $317,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 6.15% | Building Size | 16,224 SF |
| Gross Rent Multiplier | 11.4 | Average Occupancy | 100% |
| No. Units | 20 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1931/2019 |
| Property Subtype | Apartment | ||
| Zoning | R7A / C2-4 - Medium-density apartment house district with lower parking requirements | ||
| Price | $6,350,000 |
| Price Per Unit | $317,500 |
| Sale Type | Investment |
| Cap Rate | 6.15% |
| Gross Rent Multiplier | 11.4 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 16,224 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1931/2019 |
| Zoning | R7A / C2-4 - Medium-density apartment house district with lower parking requirements |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Bay Window
- Kitchen
- Granite Countertops
- Hardwood Floors
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Views
- Dining Room
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | 400 - 1,000 |
| 1+1 | 2 | - | 800 - 1,200 |
| 2+1 | 8 | - | 1,200 - 1,500 |
| 3+1 | 4 | - | - |
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Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 01217-0012 | Improvements Assessment | $795,150 |
| Land Assessment | $8,550 | Total Assessment | $803,700 |
Property Taxes
Parcel Number
01217-0012
Land Assessment
$8,550
Improvements Assessment
$795,150
Total Assessment
$803,700
Contacts
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Daniel Greenblatt -
Shaun Riney -
Andrew Bronsteen -
Julian Perla -
Marcus & Millichap
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950 Bergen Street | 950-952 Bergen St
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