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413 68th St
Brooklyn, NY 11220
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Great location close to intersection
- 1 block from MTA, 5 minute walking distance to bus line
Executive Summary
Bay Ridge All-Brick 6-family asset. Fully tenanted, the owner-occupied 2-bedroom will be delivered vacant. Upside potential offers the opportunity for growing returns; all current 2-year leases are set to expire on 9/30/25. The building is 20' x 90' on a 114 ft lot zoned R7B. Well-maintained, with 5,400 interior sq. ft. located in prime Northern Bay Ridge near shopping, dining, and multiple transportation options. Current RR is $123,421/yr, with total expenses of $38,584 (current CAP 6.3). Projected income upon new lease signing is $145,729, bringing CAP to 8%. 11 total bedrooms, 6 baths. Buyers are responsible for due diligence; apartments are rent-stabilized. Shown by appointment.
Property Facts
| Price Per Unit | $191,667 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7.39% | Lot Size | 0.05 AC |
| Sale Condition | 1031 Exchange | Building Size | 5,400 SF |
| No. Units | 6 | Average Occupancy | 0% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1915 |
| Zoning | R5B - Low-density residential zoning district in New York City that allows for any type of residential building to be constructed | ||
| Price Per Unit | $191,667 |
| Sale Type | Investment |
| Cap Rate | 7.39% |
| Sale Condition | 1031 Exchange |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 5,400 SF |
| Average Occupancy | 0% |
| No. Stories | 3 |
| Year Built | 1915 |
| Zoning | R5B - Low-density residential zoning district in New York City that allows for any type of residential building to be constructed |
Amenities
Unit Amenities
- Heating
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Pantry
Site Amenities
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 700 |
| 2+1 | 5 | - | 900 |
Property Taxes
| Parcel Number | 05855-0180 | Improvements Assessment | $621,450 |
| Land Assessment | $8,100 | Total Assessment | $629,550 |
Property Taxes
Parcel Number
05855-0180
Land Assessment
$8,100
Improvements Assessment
$621,450
Total Assessment
$629,550
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