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69 Grove St
Brooklyn, NY 11221
Multifamily Property For Sale
·
3 Units
INVESTMENT HIGHLIGHTS
- Hot rental market
- Separately metered utilities
- Central heating and cooling
- Recently built
EXECUTIVE SUMMARY
Welcome to 69 Grove Street, a three-family, free-market brick rental building built in 2015 and located on a quiet residential block in the heart of Bushwick. Perfectly positioned for a long-term hold or 1031 exchange, this fully occupied asset delivers immediate, stable cash flow with additional upside through future rent growth. Buyers' Agents Welcome!
The building currently generates $144,000 in annual gross income, offering investors reliability from day one. With an attractive 5.0% cap rate, 69 Grove Street represents a compelling opportunity in one of Brooklyn's most active rental markets. The property spans approximately 3,447 square feet across three full floors plus a basement, situated on an 18.9' x 87.5' lot with R6 zoning.
Each residence features spacious two-bedroom and three-bedroom, two-bathroom layouts with hardwood floors, modern kitchens with full-sized stainless-steel appliances and stone countertops, and modern baths. All units have central heating and cooling systems. Private outdoor space includes a rear yard and a roof terrace, providing additional lifestyle appeal and value enhancement. The residences and common areas were finished with durable materials for a hands-off owner experience. Utilities are separately metered, helping keep operating expenses low and income performance strong.
Located just minutes from vibrant restaurants, nightlife, shopping, and multiple transit options, 69 Grove Street combines durable income, modern construction, and long-term neighborhood momentum-making it a prime Brooklyn investment opportunity for both seasoned and emerging investors.
The building currently generates $144,000 in annual gross income, offering investors reliability from day one. With an attractive 5.0% cap rate, 69 Grove Street represents a compelling opportunity in one of Brooklyn's most active rental markets. The property spans approximately 3,447 square feet across three full floors plus a basement, situated on an 18.9' x 87.5' lot with R6 zoning.
Each residence features spacious two-bedroom and three-bedroom, two-bathroom layouts with hardwood floors, modern kitchens with full-sized stainless-steel appliances and stone countertops, and modern baths. All units have central heating and cooling systems. Private outdoor space includes a rear yard and a roof terrace, providing additional lifestyle appeal and value enhancement. The residences and common areas were finished with durable materials for a hands-off owner experience. Utilities are separately metered, helping keep operating expenses low and income performance strong.
Located just minutes from vibrant restaurants, nightlife, shopping, and multiple transit options, 69 Grove Street combines durable income, modern construction, and long-term neighborhood momentum-making it a prime Brooklyn investment opportunity for both seasoned and emerging investors.
PROPERTY FACTS
| Price Per Unit | $1,114,409 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 5% | Building Size | 3,447 SF |
| No. Units | 3 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 2015/2016 |
| Apartment Style | Low-Rise | ||
| Zoning | R6 | ||
| Price Per Unit | $1,114,409 CAD |
| Sale Type | Investment |
| Cap Rate | 5% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 3,447 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 2015/2016 |
| Zoning | R6 |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Sprinkler System
- Stainless Steel Appliances
- Range
- Tub/Shower
- Basement
- Double Pane Windows
- Freezer
- Intercom
- Quartz Countertops
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 3 | - | - |
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