381 SUMPTER Street, Brooklyn, NY 11233
381 SUMPTER Street, Brooklyn, NY 11233
381 SUMPTER Street, Brooklyn, NY 11233
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Randy Reis

Randy Reis

+1(917) 435-4870
Listing Courtesy of ALTA Real Estate
$1,900,000
Est. payment /mo
12 Beds
6 Baths
5,400 SqFt
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UPDATED:

Key Details

Property Type Multi Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,400 sqft

Price per Sqft $351

Subdivision Ocean Hill

MLS Listing ID RLS20092230

Bedrooms 12

Full Baths 6

HOA Y/N No

Year Built 1908

Annual Tax Amount $8,424

Property Sub-Type Multi Family

Property Description

Alta 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. Built 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. Commuter 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 Upgrades include new electric, roof and Gas Boiler. Onsite Super The 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. Further 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. Located 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. For 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

Location

State NY

County Kings

Rooms

Basement Other

Interior

Interior Features Smoke Free

Fireplace No

Laundry In Unit

Exterior

Exterior Feature None

Pool Building None

View Y/N No

View Other

Porch None

Private Pool Yes

Building

Dwelling Type Townhouse

Story 3

New Construction No

Others

Pets Allowed Pets Allowed

Tax ID 01522-0055

Ownership None

Monthly Total Fees $702

Special Listing Condition Standard

Pets Allowed Building Yes, No

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Randy Reis

Randy Reis

+1(917) 435-4870

Team Leader | License ID: 40RE1176716

Team Leader License ID: 40RE1176716

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