765 E 9th Street
Property Description
Welcome to 765 East 9th Street - a rare, long-held 6-family building in the heart of Midwood, Brooklyn. Owned by the same family for nearly 60 years, this exceptionally well-maintained property offers tremendous versatility, strong income, and the opportunity to add significant value. Currently used as a 5-family, the building can easily be converted back to its original 6-family layout, making it ideal for both investors and end-users. The first-floor features a large combined owner's apartment, created from two units and never rent stabilized-allowing the future owner to establish first rent if reconfigured. This expansive residence offers 8 well-proportioned rooms, including a kitchen, dinette area, living room, formal dining room, 4 bedrooms, and 2 full bathrooms. Whether used as a spacious owner's suite or restored into two separate units, it provides extraordinary flexibility and value. The second and third floors each contain two apartments per floor, with every unit offering 4 rooms total, including 2 bedrooms, serving long-standing, reliable, good-paying tenants. The property also includes a full semi-finished basement, featuring: Laundry room 3/4 bathroom Boiler/utility room Large open room with direct access to the rear yard With strong existing rents, stable tenancy, and additional upside potential, this building is an excellent income-producing investment, with the ability to reach an estimated 4.3% cap rate. Located on a quiet residential block near Kensington and surrounded by transportation, houses of worship, shopping, and schools, 765 East 9th Street is truly a rare opportunity in an in-demand neighborhood. First time on the market in decades - don't miss it!
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,279,000 |
| No. of Units: | 5 |
| Year Built: | 1925 |
| Lot Size: | 5,160.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $255,800 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 7 |
ID: 3yd-BMLSNY-497418
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