274 Gates Ave
Rent-stabilized eight-unit apartment building in Bedford-Stuyvesant, Brooklyn, offered at $2,000,000 at a 6.34% cap ($126,761 NOI). The 1950-built, four-story brownstone on an 18-foot-wide lot features two studios per floor on the first three levels and one studio plus one one-bedroom on the fourth floor, all individually metered for utilities and fully occupied.
Each unit includes a living and dining area, full kitchen and bathroom, wood flooring, and approximately 10-foot ceilings with abundant natural light. The basement houses the gas boiler, water heater, and utility meters. Located on a tree-lined residential block in Bed-Stuy dominated by brownstones and single-family homes, the property sits five blocks from the A, C, and G subway lines and is close to neighborhood retail and restaurants. The R6B zoning and existing unit configuration allow for potential future reconfiguration into larger floor-through apartments, subject to applicable regulations and tenant approvals. The property appeals to both investors seeking stabilized rental income and owner-occupants willing to live in one unit while collecting rent from the remaining seven.
- Eight rent-stabilized units, 100% occupied
- 1950 brownstone, four stories, 3,240 SF building on 2,160 SF lot
- Individual utility metering; 10-foot ceilings, wood floors throughout
- Five blocks from A, C, G subway lines
- Potential for reconfiguration into larger floor-through units
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This 18-foot-wide, four-story brownstone apartment building in the sought-after Bedford-Stuyvesant neighborhood of Brooklyn features eight spacious residential units and presents an opportunity for both investors and owner-occupants. The property is configured with two studio apartments on each floor, except for the fourth floor, which includes one studio and one one-bedroom apartment. Each unit offers a comfortable living and dining area, a full kitchen and bathroom, attractive wood flooring, abundant natural light, and approximately 10-foot ceilings. Apartments are individually metered for gas and electricity, while the basement houses the meters, gas boiler, and water heater. The units are rent-stabilized and provide an established rental income stream. Situated on a picturesque residential block lined primarily with brownstones and single-family homes, the property is close to neighborhood retail, restaurants, and ongoing development, with the A, C, and G subway lines approximately five blocks away. Potential future reconfiguration into larger floor-through apartments may be worth exploring, subject to applicable regulations, tenant rights, and required approvals. The property may also appeal to an owner-occupant seeking to live in one unit while generating rental income from the remaining apartments.
Transit data provided by Google. Times and distances are estimates.