381 Sumpter Street,Brooklyn, NY 11233
Brooklyn, NY 11233
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
Details
| MLS # | 1001672 |
|---|---|
| Listing Type | For Sale |
| Style | Multi-Family |
| Sub-Type | Resale |
| Status | Active |
| Year | 1908 |
| Days On Site | 99 |
| Listing Provided By | Alta New York | Rick Kelly |
Features
| SQ Feet | 5,400 |
|---|---|
| Units | 6 |
| Zoning | R6 |
| Acreage | 0.06 |
Interior
| Cooling | Central Air |
|---|---|
| Heating | None |
Exterior
| Construction Materials | Other |
|---|---|
| Foundation Details | Other |
Parking
| Parking Features | Other |
|---|
Utilities
| Utilities | None |
|---|---|
| Sewer | Other |
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Assessed Value | 391950 |
| Tax Annual Amount | 8380.08 |
Area Information
| State | NY |
|---|---|
| County | Kings (Brooklyn) |
| City | Brooklyn |
| Zip Code | 11233 |
| Listing VS Median (in 11233) | |
Price: $1,900,000 low | high Med: $1,237,500 sqft: 5,400 low | high Med: 4,388 $ / sqft: $352 low | high Med: $330 On site: 99 low | high Med: 469 | |
Market Activity 11233
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Learn More About This Property
| State | NY |
|---|---|
| County | Kings (Brooklyn) |
| City | Brooklyn |
| Zip Code | 11233 |
| Listing VS Median (in 11233) | |
Price: $1,900,000 low | high Med: $1,237,500 sqft: 5,400 low | high Med: 4,388 $ / sqft: $352 low | high Med: $330 On site: 99 low | high Med: 469 | |
