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Listed price in listed location currency (USD).
$1,950,000

0160

MLS® 499360

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential
Size 8493 sqft
Garage No
Taxes $67,316
Days Active 1
Lot Size 
Approx. Age 1931
Avg. Price Per Sqft $229
MLS® Number 499360

Property Address: 281 23rd St, Brooklyn, NY, 11215-6519

Average square foot calculated using Size range provided by listing agent.

Description

Turnkey multifamily investment - 281 23rd Street is a beautifully-maintained masonry pre-war building spanning approximately 8, 492 square feet above-grade. The building hosts 12 apartments, eight of which are configured as 2 BR, while the remaining four are 1 BR. The building is being offered for sale for the first time in almost 40 years. Current ownership has taken long-term care of the property, offering new ownership a turn-key cash flowing asset. Core asset with stable cash flow and future upside - All apartments are rent-stabilized and leased. The asset currently generates over $270, 000 gross annually. Average AGI/NSF is $34.61, equating to an average monthly rent of $1837 per apartment, this is approximately 75% of market rents of comparable rentals in area. This allows future investors to take advantage of immediate rental income on day one with virtually no work, while retaining substantial long-term upside as units are brought to market rate over time. Ideal location with multiple amenities - R subway station at the 25th Street station & the Prospect Avenue station (D, N, R, W trains). There are several markets, banks and convenience stores along with dozens of cafes and restaurants in the immediate area along 5th Avenue retail corridor. The location provides straight forward commutes to Manhattan and Brooklyn via these lines. Ideally positioned for quick access to the major highway interchange of I-278 (Gowanus Expressway) and NY-27 (Prospect Expressway).
MLS® Number499360
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
GarageNo
Approx. Age1931
BasementCellar, Semi-Finished, Separate Entrance
DrivewayNone
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Mar 4, 2026List Date
$1,950,000List Price
  • Commute

Commute

Starting Address
Destination Address
281 23 Rd St, Brooklyn, NY

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