Prime Brooklyn | Boerum Hill | 6.6% Cap Rate

479 Warren St, Brooklyn, NY 11217

Property Information

  • For Sale $4,950,000
  • Property Type Multi-Family
  • Property Size 6,631 SF
  • Units 9
  • Lot Size 0.06 Acre
  • Cap Rate % 6.6
  • # of Floors 4
  • Year Built 1920
  • Date Updated Jul 27, 2026

Description

  • Prime Turnkey 9-Unit Multifamily: A meticulously maintained four-story asset in a high-demand submarket, offering a seamless entry for yield-seeking investors.

  • Protected Tax Class 2B: Rare "protected" designation with legal caps on assessment increases—no more than 8% annually or 30% over five years—providing an essential hedge against rising operational costs.

  • 66% Free-Market Portfolio: High-yield flexibility with a majority of units exempt from rent regulation, ensuring strong immediate cash flow and long-term appreciation.

  • Comprehensive Capital Improvements: Significant upgrades within the last 3–5 years, including a new roof, reimagined hallways, and modernized plumbing.

  • Optimized Utility Structure: All free-market units feature individual heat and hot water tanks, shifting utility burdens to tenants and boosting Net Operating Income (NOI).

Contacts

Location

Located at 479 Warren St, Brooklyn, NY 11217, this property is part of the Gowanus neighborhood and Brooklyn market.

Contact Prime Brooklyn | Boerum Hill | 6.6% Cap Rate
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