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509 Saratoga Ave
Brooklyn, NY 11212
Multifamily Property For Sale
·
32 Units
Investment Highlights
- Stable, Rent-Regulated Cash Flowing: Fully occupied 32-unit walk-up apartment building.
- Strong Location in Brownsville, Brooklyn Between Pitkin and Sutter Avenues , near retail corridors and multiple transit lines.
- Fully leased 32-unit rent-stabilized building with consistent collections.
- Well-Maintained Asset 4-story prewar brick building, zero deferred maintenance.
- Upside Potential: Several leases show opportunity for rent adjustments upon turnover or renewal.
Executive Summary
Fully Occupied, Cash Flowing, Multifamily Asset with Preferential Rents
509 Saratoga Avenue presents a rare opportunity to acquire a fully leased, 32-unit rent-stabilized multifamily asset in the heart of Brownsville, Brooklyn. This prewar brick walk-up, constructed in 1930, spans over 21,000 square feet and sits on a 7,475 SF lot with C4-3/R6 zoning, offering long-term redevelopment potential. The property delivers stable, rent-regulated cash flow supported by consistent collections and an efficient operating structure featuring separate electric meters and centralized mechanical systems.
Strategically positioned between Pitkin and Sutter Avenues, the building benefits from proximity to major retail corridors, multiple subway lines (3, A, C), and neighborhood amenities such as Betsy Head Park and the Brownsville Recreation Center. With an average household income of $79,400 and a growing population (+11.5% over five years), Brownsville continues to attract investment and maintain strong occupancy fundamentals.
509 Saratoga Avenue presents a rare opportunity to acquire a fully leased, 32-unit rent-stabilized multifamily asset in the heart of Brownsville, Brooklyn. This prewar brick walk-up, constructed in 1930, spans over 21,000 square feet and sits on a 7,475 SF lot with C4-3/R6 zoning, offering long-term redevelopment potential. The property delivers stable, rent-regulated cash flow supported by consistent collections and an efficient operating structure featuring separate electric meters and centralized mechanical systems.
Strategically positioned between Pitkin and Sutter Avenues, the building benefits from proximity to major retail corridors, multiple subway lines (3, A, C), and neighborhood amenities such as Betsy Head Park and the Brownsville Recreation Center. With an average household income of $79,400 and a growing population (+11.5% over five years), Brownsville continues to attract investment and maintain strong occupancy fundamentals.
Property Facts
| Price Per Unit | $216,708 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 7.63% | Building Size | 21,292 SF |
| No. Units | 32 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1930 |
| Apartment Style | Mid-Rise | ||
| Zoning | R6, C4-3 - Medium density residential district | ||
| Price Per Unit | $216,708 CAD |
| Sale Type | Investment |
| Cap Rate | 7.63% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 21,292 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1930 |
| Zoning | R6, C4-3 - Medium density residential district |
Property Taxes
| Parcel Number | 03515-0025 | Improvements Assessment | $1,309,401 CAD |
| Land Assessment | $71,774 CAD | Total Assessment | $1,381,174 CAD |
Property Taxes
Parcel Number
03515-0025
Land Assessment
$71,774 CAD
Improvements Assessment
$1,309,401 CAD
Total Assessment
$1,381,174 CAD
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