Bay Ridge Multifamily Investment
413 68th Street, New York City, NY 11220
Six-family building in prime Bay Ridge location with upside potential.
Type:Multi-Family
Lot size:
0.05 Acres- Added:
- Jan 23, 2025
- Days on Market:
- 470
- Last Refresh:
- Apr 5 at 8:42 pm
Property Features for 413 68th Street
General Information
- Standard status
- Active
- Lot size
- 0.05 Acres
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1915
Listing agent Jean Marrone License #10401276592 (718) 938-9568
Listing office NYC - Brooklyn Bay Ridge (718) 938-9568
Listing date Jan 23, 2025
Source Kw
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All listing content including descriptions, pricing, images are the copyrighted material of NYC - Brooklyn Bay Ridge
HighLights
- Vacant 2‑bedroom owner‑occupied unit allows for immediate occupancy or rental income.
- Upside potential with leases expiring 9/30/25, offering opportunity to increase rental income and CAP rate to a projected 8%.
- Prime Northern Bay Ridge location near shopping, dining, and multiple transportation options.
- Well‑maintained, all‑brick 6‑family building with 5,400 sq. ft.
- Fully tenanted, generating $123,421/year in current rental income.
- Building dimensions are 20' x 90' on a 114 ft lot zoned R7B.
Overview
This is an all-brick, six-family building located in Northern Bay Ridge. The property is fully tenanted, with the owner-occupied two-bedroom unit to be delivered vacant. The building offers upside potential for increased returns, as all current two-year leases are set to expire on September 30, 2025. The building dimensions are 20 feet by 90 feet, situated on a 114-foot lot zoned R7B. The interior space encompasses 5,400 square feet. The property is located in a prime area near shopping, dining, and various transportation options. The current registered rent is $123,421 per year, with total expenses of $38,584, resulting in a current capitalization rate of 6.3%. Projected income upon new lease signing is $145,729, bringing the capitalization rate to 8%. The building contains a total of 11 bedrooms and 6 bathrooms. Apartments are rent-stabilized, and buyers are responsible for conducting their own due diligence. Showings are available by appointment.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- New York City
- County
- New York
- State
- New York
- Longitude
- -74.0227
- Latitude
- 40.6352
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Six-family building in prime Bay Ridge location with upside potential.
Where is this apartment building located?
The property is located at 413 68th Street New York City, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Vacant 2‑bedroom owner‑occupied unit allows for immediate occupancy or rental income.; Upside potential with leases expiring 9/30/25, offering opportunity to increase rental income and CAP rate to a projected 8%.; Prime Northern Bay Ridge location near shopping, dining, and multiple transportation options.
