Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1000770
Rental Info No
Year Built 2018
Annual Tax Amount $1,631
Property Sub-Type Multi Family
Source onekey2
Property Description
Introducing 305 Sumpter Street, a turnkey 9-unit new development completed in 2021, ideally positioned in the high-demand Bedford-Stuyvesant rental market. Constructed with a modern brick and stucco façade, this asset offers investors a stable, income-producing property with significant long-term upside.
The building features a desirable NINE unit mix:
– Three free-market 2BR units with balcony; Three affordable housing 2BR units with balcony
– Two free market 1BR/1.5BTH duplexes (one with private outdoor space)
– One premier free market 1BR penthouse with two levels of private outdoor terraces and unobstructed Manhattan skyline views
All residences are outfitted with tenant-preferred finishes including 11' ceilings, hardwood flooring, granite countertops, stainless steel GE appliances (with dishwasher), and private balconies in select units. Every unit is filled with natural light and designed for maximum tenant retention.
Financial Highlights:
– Net Operating Income (NOI): $276,981 annually
– Stabilized tenancy with 6 free-market units and 3 affordable units (curated by owner)
– Low maintenance costs supported by Mitsubishi split units, low maintenance plumbing fixtures, AO Smith Water Heaters under warranty, and energy-efficient LED lighting throughout.
– Strong amenity package including common backyard, panoramic rooftop deck, and basement laundry facilities
– 421A Tax Abatement in place until 2056
Just 3 blocks from the J train at Chauncey St, 4 blocks from the A/C at Rockaway Ave, and 6 blocks from the L train at Bushwick Ave, ensuring exceptional connectivity across Brooklyn and Manhattan. The neighborhood continues to attract renters with local hot spots such as All Night Skate, Dolly's Coffee Shop, Kaiff Juice & Coffee, Marion Hopkinson Playground, and Peaches.
With an NOI of $277K, modern finishes, strong transportation access, and a prime Bed-Stuy location, 305 Sumpter Street presents investors with immediate cash flow and long-term appreciation potential in one of Brooklyn's most dynamic neighborhoods.
Location
State NY
County Kings (brooklyn)
Rooms
Basement See Remarks
Interior
Heating Electric
Cooling Electric
Flooring Hardwood
Fireplace No
Appliance Dishwasher
Exterior
Parking Features On Street
Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available
Building
Lot Description Irregular Lot
Story 4
Foundation Other
Sewer Public Sewer
Water Public
Structure Type Other
Schools
Elementary Schools Brooklyn Landmark Elementary School
Middle Schools Brooklyn Environmental Exploration
High Schools Brooklyn 23
School District Brooklyn 23
Others
Special Listing Condition None
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