This is a rare opportunity to acquire a bank-owned, fully renovated multifamily asset at a compelling cap rate and basis. The property last sold for $4,350,000 in 2018 and is now being offered at $2.8M, providing an attractive entry point at an 8.23% cap rate. The buildings feature an impressive 24-foot width (each), allowing for spacious layouts with excellent light and air, and have been fully upgraded with all new electric, plumbing, and heating systems—delivering a true turnkey investment.

Located in a well-established Brooklyn neighborhood known for strong residential demand, on the border of Windsor Terrace and Greenwood Heights, the area offers a desirable mix of quiet, tree-lined streets and easy access to local retail, dining, and everyday conveniences. The property is well-served by multiple nearby subway lines and bus routes, providing efficient connectivity throughout Brooklyn and into Manhattan, which continues to support tenant demand and long-term stability.

The asset benefits from protected Tax Class 2A status, offering stable and predictable operating costs, and currently includes approximately $208,000 in preferential rent discounts, presenting a clear path for future upside. Overall, this offering combines strong in-place yield, discounted basis, favorable tax treatment, and long-term appreciation potential in a proven Brooklyn location.