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Turnkey Multifamily Asset | 9 Units 4-Story Building

$4,600,000

479 Warren Street, Brooklyn, NY 11217

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Last Updated: 07/28/2026

7.1

Cap Rate

325,800

NOI

Details:
Cap Rate:    7.1%
NOI:    $325,800
Building Size:    6,631 sqft
Units:    9
Price Per Sqft:    $694
Zoning:    R6B
Highlights:
  • Prime Turnkey 9-Unit Multifamily: Meticulously maintained 4-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 |ow 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).
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