2850 W 17th St Brooklyn, NY 11224

Listing Agency E House Realty & Mgt. Inc. s***@gmail.com Show Phone

Listed by Shao Feng Lin Show Phone

Source Elliman

Added: May 18 Updated: Jul 10 at 1:37 pm Checked: Jul 20 at 4:32 am

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Investment Insights

Based on property information with market context.

This six-unit multifamily building in Brooklyn was rebuilt from the ground up in 2021. The building has a size of 20' x 62' on a 20' x 120' lot, zoned R6, offering potential for future condo conversion. The units feature hardwood floors, quartz countertops, and stainless-steel appliances. The cellar mirrors the high-volume feel of the upper floors and is currently used for accessory storage, offering the opportunity to be duplexed with ground-floor units to create recreation rooms with direct access to the private backyard. Each unit is equipped with its own split AC system for independent heating and cooling, as well as its own electric hot water boiler. By utilizing all-electric mechanicals, the utility burden and maintenance are shifted directly to the tenants. The property is located near Luna Park, the Coney Island Cyclone, the New York Aquarium, the Coney Island Boardwalk and beach, and Maimonides Park (home of the Brooklyn Cyclones), and Nathan’s Famous. It is adjacent to the Stillwell Ave Station, providing 24/7 express access to the D, F, N, and Q lines.

Key Highlights

• Immediate 7.51% Cap Rate: Offers a strong return on investment.
• Rebuilt in 2021: Ensures modern construction and updated systems.
• High Potential for Future Condo Conversion (Zoning R6): Presents a value‑add opportunity.

Property Analytics

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FAQs

What type of property is this?

Apartment building - Six-unit building rebuilt in 2021 with high cap rate.

Where is this apartment building located?

The property is located at 2850 W 17th St Brooklyn, NY.

What is the asking price?

The asking price for this property is $1,930,000.

What are key features of this property?

This property features: Immediate 7.51% Cap Rate: Offers a strong return on investment.; Rebuilt in 2021: Ensures modern construction and updated systems.; High Potential for Future Condo Conversion (Zoning R6): Presents a value‑add opportunity.