38 GROVE Street
MLS® #RLS20062812
Listing by Corcoran Group
5
Bedrooms
3
Baths
2,640
Sq. Ft.
1920
Year Built
Quick Summary
Property Highlights
- Views: Other
- Climate Control: Central Air
- Character: Pre-war building (1920)
Property Details
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
Exterior Features
Building Amenities
Appliances
Building Information
Financial Details
About Bushwick
View All Bushwick ListingsBushwick 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.
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Location
38 GROVE Street, Bushwick, Kings County
Listing Data
RLS® at REBNY (Real Estate Board of New York) via Trestle API. Updated in real-time.
Map & Location
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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 9:42 AM UTC