1729 67th Street is a beautifully maintained 59-unit, rent-stabilized multifamily building with a very strong 7.8% day-1 cap rate and only asking $112/sf and $117k/unit. These are extremely attractive metrics. Beyond its metrics, the property benefits from being located just steps from the N and D subway lines, offering direct access to Manhattan and strong connectivity throughout Brooklyn.
The property has been exceptionally well-maintained over time and features extremely clean common areas and solid building systems throughout. It is a stable, orderly asset with a level of cleanliness and maintenance that stands out within the submarket. Investors are acquiring true in-place yield on day one with minimal arrears.
In addition, there is very competitive financing available, which can support approximately 10% cash-on-cash returns based on the current income and structure. The combination of scale, strong physical condition, excellent transit access, and an 7.8% going-in cap presents a compelling opportunity to secure stable cash flow at an attractive entry point in today’s market.