381 Sumpter Street,New York City, NY 11233
New York City, NY 11233
Description
pAlta Real Estate is proud to present 381 Sumpter Street, a substantial six-family brick, stablized multifamily asset offering a verified 7.5% cap rate in the Bed-Stuy/Ocean Hill section of Brooklyn./p pBuilt in 1908 and spanning approximately 5,400 square feet on a 25' x 100' lot, this three-story income-producing property is configured as six oversized residences, each featuring a highly marketable two-bedroom, one-bath layout with a dedicated home office. These flexible floorplans are well suited to today's renter demand, offering the space, utility, and work-from-home functionality that continue to drive strong leasing performance across central Brooklyn./p pCommuter friendly & Easy access to public transportation with 4 different stations hosting the A, C, E, J, Z, and L trains. All are within a 5 block walk/p pUpgrades include new electric, roof and Gas Boiler. Onsite Super/p pThe property offers investors a compelling blend of immediate cash flow, durable income, and long-term upside. Its rare Tax Class 2A designation provides meaningful protection against sharp property tax increases, with statutory assessment caps limiting increases to 8% annually and 30% over five years. This helps preserve net operating income and enhances the stability of the asset over time./p pFurther supported by flexible R6 zoning, 381 Sumpter Street also offers future optionality, including potential air-rights expansion or community facility use, subject to all applicable approvals and regulations./p pLocated at the crossroads of Ocean Hill, Bed-Stuy, Bushwick, and Broadway Junction, the property benefits from strong neighborhood momentum, excellent transit access, and a value-driven Brooklyn location that continues to attract renters and investors alike./p pFor the sophisticated investor seeking strong in-place yield, tax-efficient stability, and long-term Brooklyn upside, 381 Sumpter Street represents a rare and highly compelling multifamily opportunity. SET UP UPON REQUEST/p
Details
| MLS # | RLS20092230 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1908 |
| Days On Site | 130 |
| Listing Provided By | ALTA Real Estate | Rick O Kelly |
Features
| Bed(s) | 12 |
|---|---|
| Bath(s) | 6 Total |
| SQ Feet | 5,400 |
| Story(s) | 3 |
| Units | 6 |
| Acreage | 0.06 |
| Property View | Other |
Interior
| Rooms Total | 22 |
|---|---|
| Cooling Yes / No | No |
| Interior Features | Smoke Free |
| Fireplace Yes / No | No |
| Laundry Features | In Unit |
Exterior
| Patio And Porch Features | None |
|---|
Parking
| Garage Yes / No | No |
|---|
Taxes
| Tax Annual Amount | 8424 |
|---|---|
| Tax Block | 01522 |
| Tax Lot | 0055 |
Area Information
| State | NY |
|---|---|
| County | Kings |
| City | New York City |
| Zip Code | 11233 |
| Area | Brooklyn |
| Community Name | Ocean Hill |
| Listing VS Median (in Ocean Hill) | |
Price: $1,900,000 low | high Med: $1,249,500 sqft: 5,400 low | high Med: 2,430 $ / sqft: $352 low | high Med: $523 On site: 130 low | high Med: 157.5 | |
Market Activity 11233
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Learn More About This Property
| State | NY |
|---|---|
| County | Kings |
| City | New York City |
| Zip Code | 11233 |
| Area | Brooklyn |
| Community Name | Ocean Hill |
| Listing VS Median (in Ocean Hill) | |
Price: $1,900,000 low | high Med: $1,249,500 sqft: 5,400 low | high Med: 2,430 $ / sqft: $352 low | high Med: $523 On site: 130 low | high Med: 157.5 | |
 | $1,900,000381 Sumpter StreetBrooklyn, NY 11233 |