Brooklyn, NY 11233 - Kings County

Exceptional 16-unit multifamily building featuring a balanced mix of 14 free-market and 2 rent-stabilized apartments.

The property offers strong current income and significant upside potential through 12 fully renovated, large-format free-market units.

Highlights

16 Total Units

14 Free-Market Apartments – large, renovated 3–4 bedroom layouts

2 Rent-Stabilized Apartments – providing steady, long-term cash flow

All units have individual heating systems (tenants pay for heat)

Air conditioning in every unit

Low operating expenses due to tenant-paid utilities

High demand for large family-sized apartments in the area

Investment Summary

This asset offers investors a rare combination of stability and growth.

The 14 free-market units were historically deregulated prior to 2019 through legal pathways such as Individual Apartment Improvements and high-rent vacancy decontrol.

Under current law, these apartments are permanently free-market, allowing rents to adjust freely with demand.

The 2 stabilized units provide a reliable income base, with additional upside through modest rent guideline increases and permitted IAIs.

Tenant-paid heat and utilities further reduce landlord expenses, enhancing NOI.

Investor Highlights

Strong in-place income with majority free-market exposure

Upside potential via free-market rent growth

Low maintenance costs and minimal owner responsibilities

Balanced rent roll combining stability and flexibility

Excellent opportunity for a value-focused multifamily investor

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