Updated 8 years ago
Off Market
733 Bushwick Ave
Bushwick, Brooklyn | Hart Street & Lawton Street
4,320 Square FeetRental Property
$2,150,000
floors / apts4 / 6
Lot Size20'x83'
Built Size20'x72'
ZoneR6
Building TypeTownhouse
RE Taxes$7,716
Price Per SF
$498
Property Description for 733 Bushwick Ave
A DOUGLAS ELLIMAN & PETERS/O'BRIEN TEAM EXCLUSIVE
733 Bushwick Ave. is a three (3) story multi-family investment property comprised of five free-market apartments configured as one-bedroom and two-bedroom (1BR & 2BR) units, with a three-bedroom (3BR) duplex on the ground level - combined bringing in approx. $147,000/yr from the existing rent roll. Located in prime Bushwick, Brooklyn, the building is approx. 4,320SF and has been recently updated with new electric, roof, boiler & plumbing. All units come stylishly remodeled with brand new kitchens, updated baths, hardwood floors, and washer/dryer in units. Delivered fully occupied with an actualized cap rate of 5.38% OR a net operating income (NOI) of $115,750/yr after expenses.
A sprawling neighborhood, Bushwick was once part of Brooklyn previously known as the beer capital of the U.S. in the late 1800's, with over 45 breweries in the area alone! This led to Bushwick Ave. being known as "Brewers' Row", where industry moguls built massive homes. Today, Bushwick is in the nexus of all things "hip" in North Brooklyn and has become known as an artists' enclave - with over 50 galleries and hundreds of artist's studios dotting the neighborhood. Beautiful street art dominates the landscape with some of the largest known names represented (Banksy, Shepard Fairey, ROA).
733 Bushwick Ave. is located only a few blocks from the J/M/Z trains and nearly 7 acres of outdoor park space at Maria Hernandez Park. Surrounded by galleries, restaurants, coffee shops, bars, & shopping along Myrtle and Broadway with nearby favorites like Roberta's, Tina's Place, Lucy's Vietnamese, Little Skips, Lone Wolf, Silent Barn, Little Mo, and Bossa Nova. Residents would swear that a new coffee shop or bar is popping up weekly! Please inquire for full setup.
733 Bushwick Ave. is a three (3) story multi-family investment property comprised of five free-market apartments configured as one-bedroom and two-bedroom (1BR & 2BR) units, with a three-bedroom (3BR) duplex on the ground level - combined bringing in approx. $147,000/yr from the existing rent roll. Located in prime Bushwick, Brooklyn, the building is approx. 4,320SF and has been recently updated with new electric, roof, boiler & plumbing. All units come stylishly remodeled with brand new kitchens, updated baths, hardwood floors, and washer/dryer in units. Delivered fully occupied with an actualized cap rate of 5.38% OR a net operating income (NOI) of $115,750/yr after expenses.
A sprawling neighborhood, Bushwick was once part of Brooklyn previously known as the beer capital of the U.S. in the late 1800's, with over 45 breweries in the area alone! This led to Bushwick Ave. being known as "Brewers' Row", where industry moguls built massive homes. Today, Bushwick is in the nexus of all things "hip" in North Brooklyn and has become known as an artists' enclave - with over 50 galleries and hundreds of artist's studios dotting the neighborhood. Beautiful street art dominates the landscape with some of the largest known names represented (Banksy, Shepard Fairey, ROA).
733 Bushwick Ave. is located only a few blocks from the J/M/Z trains and nearly 7 acres of outdoor park space at Maria Hernandez Park. Surrounded by galleries, restaurants, coffee shops, bars, & shopping along Myrtle and Broadway with nearby favorites like Roberta's, Tina's Place, Lucy's Vietnamese, Little Skips, Lone Wolf, Silent Barn, Little Mo, and Bossa Nova. Residents would swear that a new coffee shop or bar is popping up weekly! Please inquire for full setup.
Building Details for 733 Bushwick Ave
OwnershipRental Property
Building TypeTownhouse
AgePre-War
AccessWalk-up
Year Built1931
Floors/Apts4/6
Transit and Citi Bike
Subway
Central Av
0.17 miles
Kosciuszko St
0.21 miles
Myrtle Av
0.31 miles
Citi Bike
Cedar St & Evergreen Ave
0.1 miles
Willoughby Ave & Myrtle Ave
0.11 miles
Contact Agents
Contact Agents
Mathew Krem
Douglas Elliman
Stephanie O'Brien
Douglas Elliman
Jessica Peters
Douglas Elliman
Bushwick | Brooklyn
Quick Profile
As one of the most diverse neighborhoods in New York, Bushwick offers a perfect snapshot of just how multicultural the city is. Long-established as an amalgam of cultures and ethnicities, a wave of varying types of immigrants trickled in from the seventeenth to twentieth centuries, with Bushwick largely becoming a home to Hispanics of Puerto Rican and Dominican backgrounds by the latter part of the twentieth century.
With the Bushwick Initiative of the mid-00s that aided in revitalization, it became an attractive area to young professionals and artists. And even now, Bushwick has sustained affordable rent prices where other North Brooklyn counterparts, like Williamsburg and Greenpoint, have become more expensive. Priding itself on the weird and the wacky, numerous art collectives thrive in this part of Brooklyn, once famously named the seventh coolest neighborhood in the world by Vogue.
Though it has drawn in many tourists in recent years (there’s even a graffiti tour you can take from the Bushwick Collective), the neighborhood remains very much community-oriented, and has not been subject to quite the same sort of corporate infiltration phenomenon of its nearby Williamsburg environs.
But yes, of course, Bushwick has come a very long way from its 80s and 90s reputation as being “The Well,” a nickname given to it for its free-flowing and widely available amount of drugs (quantity over quality being the cliche applied here).
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 72147TH
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