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989 Halsey St 3 Unit Apartment Building $2,095,000 ($698,333/Unit) 7.08% Cap Rate Brooklyn, NY 11207



Executive Summary
989 Halsey Street presents a fully gut-renovated, mixed-use opportunity in the heart of Bushwick, offering a turnkey asset with immediate income and long-term upside in one of Brooklyn’s most rapidly evolving rental markets.
Configured as a two-family residence with a ground-floor commercial component, the property has been thoughtfully designed with clean, contemporary finishes and highly efficient layouts throughout—delivering minimal near-term capital expenditure and strong operational stability.
The commercial space is currently built as a professional office, featuring a prominent entrance with reception area, conference room, three private offices, an executive office, two bathrooms, and direct access to a private backyard. The layout supports a range of office or service-based uses, enhancing tenant flexibility and long-term leasing potential.
Above, the residential component includes two expansive floor-through apartments. The parlor level offers a well-proportioned three-bedroom, two-bathroom residence with direct access to the garden, while the upper level features a four-bedroom, two-bathroom layout designed to maximize rental income and tenant appeal.
Positioned in prime Bushwick, the property benefits from sustained rental demand driven by the neighborhood’s continued growth and cultural relevance. Surrounded by acclaimed dining, cafés, and creative venues, and supported by strong transit connectivity to Manhattan and throughout Brooklyn, 989 Halsey Street is ideally situated for both stability and appreciation.
A rare opportunity to acquire a fully stabilized, design-forward asset in a high-demand location.
Set up available upon request.
Configured as a two-family residence with a ground-floor commercial component, the property has been thoughtfully designed with clean, contemporary finishes and highly efficient layouts throughout—delivering minimal near-term capital expenditure and strong operational stability.
The commercial space is currently built as a professional office, featuring a prominent entrance with reception area, conference room, three private offices, an executive office, two bathrooms, and direct access to a private backyard. The layout supports a range of office or service-based uses, enhancing tenant flexibility and long-term leasing potential.
Above, the residential component includes two expansive floor-through apartments. The parlor level offers a well-proportioned three-bedroom, two-bathroom residence with direct access to the garden, while the upper level features a four-bedroom, two-bathroom layout designed to maximize rental income and tenant appeal.
Positioned in prime Bushwick, the property benefits from sustained rental demand driven by the neighborhood’s continued growth and cultural relevance. Surrounded by acclaimed dining, cafés, and creative venues, and supported by strong transit connectivity to Manhattan and throughout Brooklyn, 989 Halsey Street is ideally situated for both stability and appreciation.
A rare opportunity to acquire a fully stabilized, design-forward asset in a high-demand location.
Set up available upon request.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,095,000 | Apartment Style | Low-Rise |
| Price Per Unit | $698,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 7.08% | Building Size | 3,300 SF |
| No. Units | 3 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1915 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R6 | ||
| Price | $2,095,000 |
| Price Per Unit | $698,333 |
| Sale Type | Investment |
| Cap Rate | 7.08% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 3,300 SF |
| No. Stories | 3 |
| Year Built | 1915 |
| Opportunity Zone |
Yes |
| Zoning | R6 |
Amenities
Unit Amenities
- Dishwasher
- Washer/Dryer
- Hardwood Floors
Site Amenities
- 24 Hour Access
- Controlled Access
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 7+4.5 | 3 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
20/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 03401-0054 | Improvements Assessment | $56,040 |
| Land Assessment | $8,460 | Total Assessment | $64,500 |
Property Taxes
Parcel Number
03401-0054
Land Assessment
$8,460
Improvements Assessment
$56,040
Total Assessment
$64,500
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989 Halsey St
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