69 Grove St Brooklyn, NY 11221
Bushwick NeighborhoodEstimated payment $13,710/month
About This Home
Welcome to 69 Grove Street, a three-family, free-market brick rental building built in 2015 and located on a quiet residential block in the heart of Bushwick. Perfectly positioned for a long-term hold or 1031 exchange, this fully occupied asset delivers immediate, stable cash flow with additional upside through future rent growth.
The building currently generates $144,000 in annual gross income, offering investors reliability from day one. With an attractive 5.0% cap rate, 69 Grove Street represents a compelling opportunity in one of Brooklyn's most active rental markets. The property spans approximately 3,447 square feet across three full floors plus a basement, situated on an 18.9' x 87.5' lot with R6 zoning.
Each residence features spacious two-bedroom and three-bedroom, two-bathroom layouts with hardwood floors, modern kitchens with full-sized stainless steel appliances and stone countertops, and modern baths. All units have central heating and cooling systems. Private outdoor space includes a rear yard and a roof terrace, providing additional lifestyle appeal and value enhancement. The residences and common areas were finished with durable materials for a hands-off owner experience. Utilities are separately metered, helping keep operating expenses low and income performance strong.
Located just minutes from vibrant restaurants, nightlife, shopping, and multiple transit options, 69 Grove Street combines durable income, modern construction, and long-term neighborhood momentum-making it a prime Brooklyn investment opportunity for both seasoned and emerging investors.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $13,200
Year Built
- Built in 1931
Lot Details
- 1,641 Sq Ft Lot
- Lot Dimensions are 87.50x18.75
Home Design
- Entry on the 1st floor
Interior Spaces
- 3,447 Sq Ft Home
- 3-Story Property
- Property Views
- Basement
Bedrooms and Bathrooms
- 7 Bedrooms
Utilities
- Central Air
Community Details
- 3 Units
- Bushwick Subdivision
Listing and Financial Details
- Legal Lot and Block 0021 / 03313
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $12,898 | $135,660 | $19,080 | $116,580 |
| 2024 | $12,898 | $119,400 | $19,080 | $100,320 |
| 2023 | $12,303 | $124,320 | $19,860 | $104,460 |
| 2022 | $11,409 | $105,180 | $19,860 | $85,320 |
| 2021 | $11,776 | $97,800 | $19,860 | $77,940 |
| 2020 | $5,728 | $98,940 | $19,860 | $79,080 |
| 2019 | $11,431 | $93,120 | $19,860 | $73,260 |
| 2018 | $10,968 | $53,803 | $11,957 | $41,846 |
| 2017 | $4,221 | $20,705 | $7,457 | $13,248 |
| 2016 | $3,690 | $18,457 | $6,788 | $11,669 |
| 2015 | $2,329 | $19,306 | $5,326 | $13,980 |
| 2014 | $2,329 | $19,159 | $6,187 | $12,972 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/02/2025 12/02/25 | For Sale | $2,395,000 | -- | $695 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | -- | -- | |
| Deed | $900,000 | -- | |
| Deed | $430,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $700,000 | Purchase Money Mortgage |
Source: Real Estate Board of New York (REBNY)
MLS Number: RLS20062051
APN: 03313-0021
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