$1,349,000
Updated 4 years ago
Off Market

419 68th Street

Bay Ridge, Brooklyn | 4th Ave & 5th Ave

14 Rooms12 Beds6 Baths5,250 Square FeetMulti-Family

$1,349,000
floors / apts3 / 6
Lot Size25'x114'
Built Size25'x70'
ZoneR5B
Building TypeHouse
RE Taxes$19,966
Price Per SF
$257

Outdoor space and views

  • Backyard

Property Description for 419 68th Street

This is a great multi family investment opportunity with lots of potential. This building is large, 5,250 sqft and the lot is 2,867 square feet. The subway and the B9 bus are located a half a block away while the B64 is approximately 2 blocks away from subject property. There is also plenty of shopping in a short distance on 3rd, 4th, and 5th Avenues. This investment has an annual rent roll of $92,172 (considering a proposed rent of $2,000/month for apartment 2F) and it pays out expenses totaling $34,746 per year, making the Net Operating Income $57,426 per year. Apartment 2F was owner occupied and is currently vacant. You may consult with your Landlord/Tenant Lawyer for more details on this subject. Also has a backyard that is approximately 1,000 square feet and has a large basement that can be rented out for storage. It could also be turned into a coin operated laundry area for tenant use. Present all offers!!

Listing History for 419 68th Street

Now
07/29/2022
POM by John Koulouroudis
Ben Bay Realty Company
02/24/2022
$1,349,000
Initial Price by John Koulouroudis
Ben Bay Realty Company

Building Details for 419 68th Street

OwnershipMulti-Family
Building TypeHouse
AgePre-War
AccessWalk-up
Year Built1915
Floors/Apts3/6
Learn More About the Building

Transit and Citi Bike

Subway

Bay Ridge Av
0.06 miles
77 St
0.41 miles
59 St
0.49 miles

Citi Bike

68 St & 4 Ave
0.06 miles
68 St & 5 Ave
0.12 miles

Contact Agent

Contact Agent

John Koulouroudis
Ben Bay Realty Company

Bay Ridge | Brooklyn

Lush front yards and trimmed hedges are pretty common in Bay Ridge.

Quick Profile

Bay Ridge is an old-world neighborhood neatly tucked into the southwest corner of Brooklyn within the shadows of the Verrazano Bridge. The neighborhood is encircled by the Belt Parkway along the shore line and the Gowanus Expressway inland.

Bay Ridge, long known for its generational pull, has historically been home to a diverse number of ethnic groups. While the area is flush with people of Irish, Italian and Greek descent, these ethnic communities have been joined by larger numbers of new groups, including people with Russian, Polish, Asian and Middle Eastern backgrounds. The Arab American community today in Bay Ridge represents the largest concentration of Arab Americans in New York City.

For many years, Bay Ridge and its waterside location, would attract the affluent. But most of the mansions that once lined Shore Road are long gone and have been replaced by six-story apartment buildings.  

Aside from the low-rise apartment buildings, the neighborhood pretty much consists of one and two-family homes. Lush front yards and trimmed hedges are pretty common here.  

Current zoning and limitations on building heights restrict any out of the norm development. At present, the future beholds small development on some of the commercial strips and teardowns of older homes for smaller residential projects.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 83386TH