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  • 176 28th Avenue
  • $ 3,188,000
176 28th Avenue Bath Beach Brooklyn NY 11214
176 28th Avenue Bath Beach Brooklyn NY 11214
176 28th Avenue Bath Beach Brooklyn NY 11214
176 28th Avenue Bath Beach Brooklyn NY 11214
176 28th Avenue Bath Beach Brooklyn NY 11214
176 28th Avenue Bath Beach Brooklyn NY 11214
176 28th Avenue Bath Beach Brooklyn NY 11214
176 28th Avenue Bath Beach Brooklyn NY 11214
176 28th Avenue Bath Beach Brooklyn NY 11214

176 28th Avenue

Bath Beach   |   Harway Ave & Cropsey Ave

Building For Sale
$ 3,188,000
Ownership Multi-Family
Lot Size 72'x96'
Status Active
Real Estate Taxes [Per Annum] $ 52,401
Building Size 53'x57'
Year Built 1965
ASF/ASM 8,975/834
 

Photos

176 28th Avenue Bath Beach Brooklyn NY 11214
176 28th Avenue Bath Beach Brooklyn NY 11214
176 28th Avenue Bath Beach Brooklyn NY 11214
176 28th Avenue Bath Beach Brooklyn NY 11214
176 28th Avenue Bath Beach Brooklyn NY 11214
176 28th Avenue Bath Beach Brooklyn NY 11214
176 28th Avenue Bath Beach Brooklyn NY 11214

Maria Castellano

License Licensed As: Maria Castellano

Licensed Real Estate Broker/Owner


W: 718-236-1800
M: 917-318-1775
176 28th Avenue Bath Beach Brooklyn NY 11214

Property Description

Don’t miss this rare opportunity to own a fully detached brick 9-family building in the highly sought-after Bath Beach neighborhood of Brooklyn. This remarkable investment sits on a spacious 72.08 ft x 96.67 ft lot and boasts a generous building size of 53 ft x 57 ft, complete with eight designated parking spaces for both residents and the on-site commercial unit. The property consists of six large 2-bedroom, 1-bath units (each approximately 1,000 sq ft) and three well-maintained 1-bedroom, 1-bath units (around 700 sq ft). Of the nine apartments, seven are free-market, offering strong rental flexibility, while only two are rent-stabilized. The current configuration brings in a solid gross annual income of $235,649.76, with operating expenses at $87,960, yielding a CAP rate of approximately 4.6%. However, the property still has untapped potential, with the ability to increase rents and projected returns reaching 5.5%+ for the next investor or owner-user. Additional features include a live-in superintendent, recent upgrades to the boiler and heating system, and ongoing maintenance that has kept the building in good and fair condition. The ground-floor office space is also available for lease, presenting an excellent opportunity for a medical office, daycare, or other professional use. This is a compelling investment with strong cash flow and value-add potential in a prime Brooklyn location. Act quickly—opportunities like this won’t last!
Don’t miss this rare opportunity to own a fully detached brick 9-family building in the highly sought-after Bath Beach neighborhood of Brooklyn. This remarkable investment sits on a spacious 72.08 ft x 96.67 ft lot and boasts a generous building size of 53 ft x 57 ft, complete with eight designated parking spaces for both residents and the on-site commercial unit. The property consists of six large 2-bedroom, 1-bath units (each approximately 1,000 sq ft) and three well-maintained 1-bedroom, 1-bath units (around 700 sq ft). Of the nine apartments, seven are free-market, offering strong rental flexibility, while only two are rent-stabilized. The current configuration brings in a solid gross annual income of $235,649.76, with operating expenses at $87,960, yielding a CAP rate of approximately 4.6%. However, the property still has untapped potential, with the ability to increase rents and projected returns reaching 5.5%+ for the next investor or owner-user. Additional features include a live-in superintendent, recent upgrades to the boiler and heating system, and ongoing maintenance that has kept the building in good and fair condition. The ground-floor office space is also available for lease, presenting an excellent opportunity for a medical office, daycare, or other professional use. This is a compelling investment with strong cash flow and value-add potential in a prime Brooklyn location. Act quickly—opportunities like this won’t last!

Listing Courtesy of Century 21 Realty First

Maria Castellano

License Licensed As: Maria Castellano

Licensed Real Estate Broker/Owner


W: 718-236-1800
M: 917-318-1775

Care to take a look at this property?

Apartment Features

A/C [Window Units]
Exposed Bricks
Hardwood Floors
Private Entrance
176 28th Avenue Bath Beach Brooklyn NY 11214
176 28th Avenue Bath Beach Brooklyn NY 11214

Building Details [176 28th Avenue]

Ownership Multi-Family
Block/Lot 6915/41
Building Size 53'x57'
Zoning R5
Year Built 1965
Floors 4
Lot Size 72'x96'

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Loan Amount

Maria Castellano

License Licensed As: Maria Castellano

Licensed Real Estate Broker/Owner


W: 718-236-1800
M: 917-318-1775
BNYMLS All information furnished regarding this or any property listed for sale or rent is gathered from sources deemed reliable. Though we have no reason to doubt the accuracy or validity of this information, we make no warranty or representation as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or withdrawal without notice. It is strongly recommended that the prospective purchaser or tenant shall carefully review each item of size, dimensions, real estate taxes, expenses, legal use and any other information presented herein.
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.
MLSID: 494101