Investment Property Realty Group (IPRG) is pleased to exclusively present this fully free-market 5 family apartment building. The property is located at 9027 Fort Hamilton Parkway between 90th and 92nd Street in the Bay Ridge neighborhood of Brooklyn.
The subject property totals approximately 4,176 square feet and is built 21.42 ft wide by 65 ft deep on a lot that extends 75.08 feet deep. The property is in the highly sought after 2A protected tax class and free-market units allow for a significant value-add opportunity.
The property is a short walking distance to the Bay Ridge - 95th Street [R] Subway Station, providing easy access to Manhattan, Queens, and the rest of Brooklyn.
HIGHLIGHTS
• Bay Ridge fully-free market 5 family
• Legitimate value-add opportunity - current rent roll averaging $24/SF in a market achieving $35+ / SF
• 100% free-market and in protected tax class 2A - rent growth outpaces expenses
• Long-term family ownership
• Close proximity to 86th Street as well as 3rd and 5th Avenue retail corridors
• Short walk to Bay Ridge 95th Street [R] Train Station
• Excellent location in Bay Ridge – extremely reliable sub-market with strong fundamentals