New Listing - 12/08/2025
Listing courtesy of Corcoran Group (212) 355-3550
38 GROVE Street, Brooklyn, (Bushwick), NY, 11221
12 rooms
5 beds
3 Full baths
1920
2,640 sqft
Welcome to 38 Grove Street, a FULLY LEASED, income-producing two-family townhouse located on a quiet residential block in the heart of Bushwick. Spanning two stories plus a full basement and a finished attic, this well-maintained building sits on a 25' x 83.92' lot and offers immediate, stable cash flow with long-term upside.
The property currently generates $102,000 in annual gross income with both units on strong leases extending into 2026. With modest annual operating expenses of approximately $9,606, the building delivers an impressive net operating income of $92,394 and an attractive 5.27% cap rate. This is a clean, straightforward investment with predictable performance and minimal management intensity.
The building is configured as two spacious duplex residences, each offering multiple bedrooms, generous living and dining areas, and great natural light. The apartments each have central heating and cooling, modern kitchens with full size stainless steel appliances, and in-unit laundry. The additional attic and basement provide valuable flexible space for tenants, further enhancing long-term functionality and flexibility.
Perfectly positioned within one of Brooklyn's most active rental markets, 38 Grove Street offers investors a rare combination of strong in-place income, favorable operating metrics, and long-term neighborhood upside.
Status:
Active
Town:
Brooklyn
Type:
Condo/Coop
Laundry Remarks:
Building Other,Washer Hookup,In Unit
Units:
2
Cooling:
Central Air
Basement:
Other
Levels:
2
Lot Size:
83.92x25.00
Est. Taxes:
$2,808
View Description:
Other
Pet Policy:
Building Yes, Yes
Appliances:
Washer Dryer Allowed
MLS #:
RLS20062812
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