Marcus & Millichap Real Estate is excited to announce the Exclusive Sale of 471 78th Street, a three-story brick apartment building comprised of 6 units. The property is located on 78th Street, between 4th and 5th Avenues in the Bay Ridge neighborhood of Brooklyn. The subject property was built in 1931 and measures 20 feet wide by 83 feet deep and extends 100 feet deep. The property is zoned R4-1 and is located within a few blocks of the 77th Street [R] Train Station, providing easy access to Manhattan and the rest of Brooklyn. 471 78th Street is a clean, well-managed brick 6 family. For investors predicting that the Housing Stability Tenant Protection Act of 2019 will eventually be re-adjusted, this property holds substantial future upside in all 6 regulated rents and would be a low-basis purchase at $239/per square foot in an a highly desirable submarket. INVESTMENT HIGHLIGHTS * Bay Ridge 6 Unit Walk-Up Apartment Building * Seller-Financing Considered on Case-by-Case Basis * Front & Back Layouts with 5 Two Bedrooms and 1 One Bedroom * Brand New Stucco & Insulation in Courtyard and Rear Exterior * 8-Year-Old Gas Boiler, 2 Hot Water Tanks That Are 2-Years- Old, And 5-Year- Old Sewer Line. All Dates Are Approximate * Updated Apartments * Minimal Violation Count (2 HPD & 1 DOB) Tours by Private Appointment only.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
