Active For Sale • Multi Family

$1,750,000

$663 per sq ft

38 GROVE Street

Bushwick, Brooklyn

MLS® #RLS20062812

Listing by Corcoran Group

5

Bedrooms

3

Baths

2,640

Sq. Ft.

1920

Year Built

Quick Summary

Bedrooms 5

Bathrooms 3

Living Area 2,640 sq ft

Lot Size 2,098 sq ft

Year Built 1920

Ownership None

Property Taxes $2,808/yr

Neighborhood Bushwick

Floor 1 of 2

Property Highlights

• Views: Other
• Climate Control: Central Air
• Character: Pre-war building (1920)

Property Details

Type Multi Family

Ownership None

Total Rooms 12

Baths 3 Full

Floor 1 of 2

View Other

Cooling Central Air

Pets Yes

Year Built 1920

Living Area 2,640 sq ft

Structure Type Townhouse

Basement Other

Lot Size 2,098 sq ft

Parcel # 03321-0017

Block/Lot 03321/0017

Description

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.

Features & Amenities

Interior Features

Smoke Free Building Other Washer Hookup In Unit

Exterior Features

Private Outdoor Space Over60 Sqft

Building Amenities

Green Building

Appliances

Washer Dryer Allowed

Building Information

Total Units 2

Stories 2

Structure Townhouse

Financial Details

RE Taxes $2,808/yr ($234/mo)

About Bushwick

View All Bushwick Listings

Bushwick has emerged as Brooklyn's premier creative frontier, known for its world-class street art, eclectic nightlife, and industrial-chic vibe. The neighborhood offers a diverse range of housing options, from converted warehouse lofts that appeal to artists and professionals to traditional multi-family townhouses. Recent years have seen a surge in boutique new construction condominiums, making it a top destination for those seeking a dynamic and evolving urban environment.

Bushwick Live Market Data

View Neighborhood

Active Listings

92

Median Asking Price

$945K

Median $/Sqft

$958

Avg Days on Market

N/A

New This Week

6

Price Reduced

25%

Sold (30 Days)

7

Median Sale Price

$755K

Live data from RLS at REBNY • Updated 2/16/26, 4:03 AM EST

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Location

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38 GROVE Street, Bushwick, Kings County

NYC Zoning • Google Maps • Street View

Data Sources & Methodology

Listing Data

RLS® at REBNY (Real Estate Board of New York) via Trestle API. Updated in real-time.

Market Data

RLS® at REBNY (Real Estate Board of New York). Live data updated in real-time.

Map & Location

OpenStreetMap contributors via Leaflet. Geocoding via Nominatim.

All data is provided for informational purposes only and should be independently verified. See our Data Sources Policy for more information.

MLS® ID: RLS20062812

First Listed: 12/8/2025

On Market: 12/8/2025

Price Changed: 12/8/2025

Contract Date: 12/8/2025

Listing Courtesy of Corcoran Group - Nicholas Andrew Hovsepian

Listing Contact: (310) 748-8668

Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York's Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer's personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., all rights reserved. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.

Broker Commission Disclosure: Broker commissions are not set by law and are fully negotiable.

RLS Data display by Keller Williams NYC. Data last updated on 2/16/2026 at 9:03 AM UTC