70 Patchen Ave
Brooklyn, NY 11221
Multifamily Property For Sale
·
17 Units
Property Facts
| No. Units | 17 | Lot Size | 0.12 AC |
| Property Type | Multifamily | Building Size | 18,000 SF |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 1992 |
| Building Class | C | ||
| Zoning | R6A | ||
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 18,000 SF |
| No. Stories | 4 |
| Year Built | 1992 |
| Zoning | R6A |
Amenities
Unit Amenities
- Dishwasher
- Refrigerator
- Breakfast Nook
- Dining Room
- Linen Closet
Site Amenities
- Controlled Access
About 70 PATCHEN AVE , BROOKLYN, NY 11221
four-story apartment building in the Bedford Stuyvesant neighborhood of Brooklyn, New York. 70 Patchen Avenue presents investors with an exceptional opportunity to acquire a walk-up apartment building comprised of 17 units in the heart of Bedford Stuyvesant. The property is only two blocks from the J and Z trains. Ownership has put in significant capital improvements to individual apartments as units have turned, as well as to common areas of the building. Upgrades include new kitchens, bathrooms and floors in individual units, as well as a new boiler. The apartments are large, spacious units made up of a good mix of one-, two- and three-bedroom units. The current owner has a tax abatement on the building as part of the NYC J-51 exemption and abatement program for the renovations already completed. This is a very large benefit which will be passed on to a new owner. This property offers an investor an opportunity to acquire a multifamily asset in one of the best neighborhoods in Brooklyn with steady long-term income.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | $1,390 | 550 |
| 2+1 | 8 | $1,425 | 700 - 900 |
| 3+2 | 3 | $1,900 | 900 - 1,100 |
Property Taxes
| Parcel Number | 01627-0053 | Improvements Assessment | $468,000 |
| Land Assessment | $67,500 | Total Assessment | $535,500 |
Property Taxes
