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Key Details
Property Type Single Family, Mixed Use
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 13,431 sqft
Price per Sqft $558
Subdivision Bay Ridge
MLS Listing ID RLS20122910
Bedrooms 20
Full Baths 12
Half Baths 2
HOA Y/N Yes
Year Built 1925
Annual Tax Amount $136,848
Property Sub-Type Mixed Use
Property Description
This modern elevator building features 10 fully occupied residential units, generating immediate rental income, plus an estimated 2,100-square-foot cellar offering exceptional potential for a variety of permitted uses, including a medical office, veterinary clinic, daycare center, law office, community facility, and more, subject to applicable zoning and approvals.
Adding to its investment appeal is a proposed 25-year tax abatement, with approval anticipated soon. Once approved, the annual property taxes are estimated to be under $10,000, potentially enhancing the property's long-term cash flow and investment returns.
Enjoy outstanding convenience with close proximity to the R train, MTA bus service, Shore Road, Owls Head Park, Bay Ridge's renowned restaurants, popular shopping destinations, and an upcoming Trader Joe's supermarket.
An outstanding opportunity for investors seeking a turnkey, income-producing asset or a potential 1031 exchange investment. With modern construction, full occupancy, additional space with versatile potential, and the anticipated tax benefits, this property presents a compelling opportunity in one of Brooklyn's established residential neighborhoods.
Location
State NY
County Kings
Interior
Heating Electric
Cooling Other
Flooring Laminate, Tile
Furnishings Unfurnished
Fireplace No
Laundry Laundry Room, See Remarks
Exterior
View Y/N No
Private Pool No
Building
Dwelling Type Mixed Use
Story 6
New Construction No
Others
Tax ID 05979-0044
Ownership None
Monthly Total Fees $11, 404
Pets Allowed Building No, No
Virtual Tour https://www.youtube.com/watch?v=T_Y4qTN1qOc
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Lee Presser
Broker Associate License ID: 30PR0988167
Broker Associate License ID: 30PR0988167