SOLD FOR $1,480,000
Listed at $1,510,000 · Sold 2% below asking · Closed March 8, 2022
$1,480,000
$317 per sq ft
Listed at $1,510,000 $-30,000 vs asking
551 82nd Street
MLS® #RLS10761064
Listing by Keller Williams Realty Empire
10
Bedrooms
8.5
Baths
4,672
Sq. Ft.
1928
Year Built
Sale Details
Property Summary
Description
This property is 25ft wide x 73 ft deep with 6 two-bedroom 1 Bathroom (4 out of 6 units are renovated with new bath and/or new kitchen). Seller maintained the building throughout the years so low maintenance for new buyers. Seller also paid to CONVERT TO GAS HEAT (signed off). Seller spends a lot of money to put in NEW ROOF, NEW BOILER, NEW ELECTRIC, NEW SIDEWALK, so it gives buyers peace of mind. The seller has been keeping up with legal rent roll throughout the years so there's more profit margin for new buyers. This is a GREAT investment property that yields you a 6% CAP RATE at the current rent and layout. There is future potential for 2 duplexes on first and ground level. There is also a laundry hook-up for future coin-operated washers and dryers. Gross Annual Rent Roll: $128,357; Expenses: $34,643; NOI: $93,714; CAP RATE: 6%. Close to transportation (R train, B16, B70, and BQE 278), 5th Ave and 3rd Ave Restaurants, 86th Street Bay Ridge Shopping with Major Brands (86bid.org), proximity to Dyker Beach Dog Park for small and big dogs.
Property Details
Similar Active Listings in Bay Ridge
View All
Listing courtesy of Hui-Bing Katie Wu at Keller Williams Realty Empire. Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York's Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer's personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., all rights reserved. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved.