1876 9Th StBrooklyn, NY 11223

Property Details for 1876 9Th St

Year built

1931

Lot size

0.06 AC

Property size (Sq ft)

5,148 SF

Zone code

R4-1

Property type

Apartment buildings

APN

06671-0036

APU

66710036

Description

This exceptional investment opportunity presents a six-family mixed-use building located in the desirable Gravesend neighborhood of Brooklyn, New York. The property, situated at 1876 West 9th Street, boasts a substantial 2,800 square feet of space on a 28x100 lot. The building is a solid brick, semi-detached structure. The current annual rental income is approximately $115,000, representing a strong return on investment. Recent upgrades include a brand new roof, a new gas heating system, a new hot water heater, updated electrical systems, and newer windows, ensuring minimal maintenance needs for the new owner. The property is well-maintained and presents an excellent opportunity for an investor seeking a stable, high-yield asset. Additionally, there is potential for an end-user, with the possibility of one or two vacant units at closing, allowing for immediate occupancy or customization. This prime location in Gravesend offers easy access to abundant transportation options and shopping amenities. This is a rare opportunity to acquire a prized piece of Brooklyn real estate in a highly sought-after area. The asking price for this remarkable property is $1,500,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,055,386

  6.5%

  $974,203

  7%

  $904,617

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,042,588

  Geo Method

  $1,042,588

• Alternative Use

  Use

  Valuation

  Residential

  $974,203

  Hospitality

  $892,365

  Educational

  $742,437

  Medical

  $767,970

  Retail

  $1,154,902

Location Insight

City

Brooklyn

County

Kings

State

New York

Latitude

40.6014

Longitude

-73.9816

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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