413 68Th St Brooklyn, NY 11220
- Apartment buildings
- 5,400 SF
- 0.05 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 413 68Th St
- Year built
- 1915
- Lot size
- 0.05 lot acres
- Property size
- 5,400 SF
- Zone code
- R5B
- Property type
- Apartment buildings
- APN
- 05855-0180
- APU
- 58550180
Description
This exceptional Bay Ridge investment property presents a compelling opportunity for savvy investors. The all-brick, six-family building boasts 5,400 square feet of interior space, situated on a 0.05-acre lot (20' x 90' on a 114 ft lot) zoned R7B. Currently fully tenanted, generating a robust annual rental revenue of $123,421 with total expenses of $38,584, resulting in a current capitalization rate of 6.3%. The building features eleven bedrooms and six bathrooms across six units. One owner-occupied 2-bedroom unit will be delivered vacant, offering immediate upside potential. All current leases are two-year agreements expiring September 30, 2025. Projected income upon lease renewal is $145,729, increasing the capitalization rate to 8%. This well-maintained property enjoys a prime Northern Bay Ridge location, providing convenient access to an array of shopping, dining, and diverse transportation options. The apartments are rent-stabilized. Buyers are responsible for conducting their own due diligence. Showings are by appointment only.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,119,000
Market price range: $908k - $1.71M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $1,205,000 Current use
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Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -74.0226
- Latitude
- 40.6353
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
