377 Chauncey St Unit BUILDING, Brooklyn, NY 11233

Property Description

377 Chauncey Street presents the opportunity to acquire a well-maintained six-unit multifamily building in the heart of Brooklyn's highly sought-after Stuyvesant Heights neighborhood. Built circa 1906, the three-story property consists of six spacious approximately 2.5-bedroom, one-bath apartments, including four free-market units and two rent-stabilized units, providing a balance of stable in-place cash flow and long-term rental growth potential. Recent capital improvements include a new boiler installed in 2026, while the roof is reported to be approximately 10 years old, reducing near-term capital expenditure requirements. Several of the free-market apartments are currently rented below prevailing neighborhood levels, creating the opportunity to increase income over time through natural tenant turnover and strategic asset management. Located on one of Stuyvesant Heights' attractive residential blocks, 377 Chauncey Street benefits from strong demand driven by the neighborhood's historic brownstone character, convenient subway access, and continued investment throughout Central Brooklyn. Supported by recent comparable sales on Chauncey Street and in the surrounding area, the property offers investors the opportunity to acquire a well-positioned multifamily asset with dependable cash flow, upside in rental income, and long-term appreciation potential. Investment Highlights Six-unit multifamily building in the heart of Stuyvesant Heights, Brooklyn. Attractive unit mix consisting of four free-market apartments and two rent-stabilized apartments. Six approximately 2.5-bedroom, one-bath layouts with strong tenant appeal. Stable in-place income with meaningful upside through below-market free-market rents. New boiler installed in 2026. Roof reported to be approximately 10 years old. Opportunity to increase NOI through strategic rent growth and asset management. Supported by recent comparable sales within the immediate neighborhood. Excellent long-term investment in one of Brooklyn's strongest multifamily markets.