802 Driggs Avenue

Property feature image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Address: 802 Driggs Avenue, Brooklyn, New York, US
Created date: November 9, 2023
Date last updated: December 4, 2023

Property Description

This well-maintained, four-family building in Williamsburg is a fantastic opportunity to invest in Brooklyn's trendiest and most bustling borough. The building is 3,185 square feet and sits on a lot measuring 22.75' x 87.42. Of the four floor-through units, three are two-bedrooms and one is a three-bedroom. The ground floor unit comes with exclusive backyard access. The building is currently fully occupied and yields a cap rate of 5.5%. With 1,650 square feet of unused air rights, this is also a fantastic opportunity for redevelopment, which would more than double the property's NOI and yield a 11.2% cap rate. This is a rare opportunity to generate significant passive income in prime Williamsburg.

Key Property Information

Listing Status: Unavailable
Listing Type: Call for offers
Multifamily type: Apartments
Price: $2,600,000
Lot Size: 1,989.00 Sq ft
Opportunity Zone: No
Address: 802 Driggs Avenue, Brooklyn, NY 11211, USA
Provided by:

Similar Properties in the Area

95-34 104th Street

Jamaica , New York
New York & Tri-State + Apartments
Units: 8

600-631 Deborah Jane Dr

Pittsburgh , Pennsylvania
New York & Tri-State + Apartments
Units: 92
Price: $8,550,000

1071 Iranistan Ave

Bridgeport , Connecticut
New York & Tri-State + Apartments
Units: 18
Price: $1,100,000
New call-to-action
popup background image