643 & 647 Sheffield Ave 2 Multifamily Properties Offered at $7,200,000 in Brooklyn, NY

643 & 647 Sheffield Avenue presents an opportunity to acquire a multifamily asset in Brooklyn consisting of 16 residential units across a recently constructed building completed in 2020. The property includes 14 two-bedroom apartments and two one-bedroom apartments, providing a unit mix designed to appeal to a broad range of renters. The building contains approximately 12,586 square feet and features a finished basement, adding functional space to the asset.
The property benefits from proximity to public transportation, supporting convenient access throughout Brooklyn and the greater New York City area. Separate utility metering includes 18 electric meters, 18 gas meters, and 18 hot water units, offering an infrastructure setup that may support operational efficiency. The offering materials indicate a tax abatement with approximately 29 years remaining, which may contribute to reduced operating expenses over the long term.
According to the provided information, the property generates gross income of $559,236 annually with operating expenses of $114,855, resulting in a stated net income of $444,381. The offering is marketed at $7,200,000. With recent construction, stabilized residential occupancy potential, and access to transportation, the asset offers investors a multifamily opportunity within the Brooklyn market.
Buildings can also be purchases separately.