Marcus & Millichap has successfully sold 232 54th Street, a four story six unit apartment building in the Sunset Park neighborhood of Brooklyn, New York. The subject property, located on 54th Street between 2nd and 3rd Avenues, is comprised of four one-bedroom and two two-bedroom units. Built 20 feet by 70 feet and sitting on lot measuring 20 feet by 100 feet, the building offers approximately 3,558 gross square feet. The zoning is R6B and the property was built in 1911. (Block: 821, Lot: 18).

This property offers investors' significant upside in the rent roll with minimal deferred maintenance. Along with this building's proximity to Lutheran Medical Center, this is a location that will benefit from continued development along Western Brooklyn's waterfront. There has been, and should continue to be, substantial growth in jobs and average residential rents over the next 6-18 months in Sunset Park.

• Sunset Park Brick Six Family
• Immense Upside in Rent-Stabilized Income
• Market for Residential Rents $35-$40 per Square Foot
• Close to Industry City and Sunset Park Waterfront
• Property is in Good Shape
• Front and Back Box-Style Apartment Layouts