UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1001672
Rental Info No
Year Built 1908
Annual Tax Amount $8,380
Lot Size 2,500 Sqft
Acres 0.0574
Property Sub-Type Multi Family
Source onekey2
Property Description
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 (brooklyn)
Interior
Heating None
Cooling Central Air
Fireplace No
Exterior
Parking Features Other
Utilities Available None
Building
Foundation Other
Sewer Other
Water Other
Structure Type Other
Schools
High Schools Brooklyn 23
School District Brooklyn 23
Others
Special Listing Condition None
NEARBY SCHOOLS & PROPERTIES
The mission of the ASA Real Estate Group is to provide a lifelong, positive impact on our clients, our communities, our team, as well as the other realtors with which we work. We specialize in assisting Buyers and Sellers transact. With our extensive knowledge of the market we help our clients get the best possible price for their home through proactive marketing approach. We guide sellers and buyers through every step of the process and keep them updated their transaction.