The Brennan Team of Marcus & Millichap has been exclusively hired to sell a four-story brick mixed-use building comprised of seven (7) apartments and one (1) commercial space. The property measures 25 feet wide by 75 feet deep and is located on 17th Street between 3rd & 4th Avenues in the South Slope neighborhood of Brooklyn, New York. Originally built in 1908, the property is zoned M1-2D and sits on a property lot extending 100 feet deep.

Of the seven (7) residential units, four (4) are de-regulated and three (3) are rent-stabilized. The ground floor commercial space is vacant, offering the potential for a new purchaser to utilize the space for their own business or lease the space to a tenant of their choice. The subject property is in excellent condition and has been owned by the same private owner for nearly 40 years.

Recent building improvements include facade re-pointing in 2020, newly painted front and back fire escapes with brand-new angle irons as of 2020, new roof and camelbacks in 2020, and new Thorosealing of the exterior walls and courtyard in 2021.

This  is a prime opportunity to acquire a cash-flowing mixed-use investment building with four (4) gut-renovated apartments, and three (3) rent-stabilized apartments presenting significant rental upside to a patient investor. The subject property is in an excellent location, one block from the Prospect Avenue [D,] train.

Property Highlights:

South Slope 17th Street & 3rd Avenue | Seven Apartments, One Retail Space, and T-Mobile Site

No DOB Violations & No Active 311 Complaints on HPD’s Website

Strong Current Cash-Flow with Upside in 3 Rent-Stabilized Units

Corner Building with High Visibility

Protected Tax Class 2B, Annual Taxes of $18,906

Convenient Location 1 Block from the Prospect Avenue D, N, R, W Trains