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15 Beds

10 Bathrooms

8,975 Building Sqft

6,968 Lot Sqft

$3,188,000

176 28th Avenue, Brooklyn, New York, 11214

About 176 28th Avenue

Active Multi-Family

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!

Features of 176 28th Avenue

MLS® #
494101
Bedrooms
15
Bathrooms
10
Half Baths
1
Acres
0.16
Type
Residential
Price
$3,188,000
Building Sqft
8,975
Year Built
1965
Sub-Type
Multi-Family

Community Information

Address
176 28th Avenue
City
Brooklyn
County
Kings (Brooklyn)
State
New York
Zip Code
11214

Listing Information

Agent Name
Karla Ng Mok
Agent Office
Century 21 Realty First

Listing Map

Get Directions to Property:

At a Glance

176 28th Avenue

Brooklyn, New York, 11214

$3,188,000

15 Beds

10 Bathrooms

8,975 Building Sqft

6,968 Lot Sqft

(718) 987-7900