Three Story Apartment Building With A Driveway And Four Car Garage For Sale

$3,250,000

1619-1621 Park Place, Brooklyn, NY 11233

For Sale

Multifamily Mid High Rise

Active

Last Updated: 06/30/2026

Details:

Cap Rate: 6.2%

NOI: $200,256.16

Building Size: 6,242 sqft

Zoning: R6

Floors: 3

Offered by

Kervin Vales

Licensed Real Estate Person

Brown Harris Stevens

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Description:

A 46’ wide seven unit three story apartment building. The property has a drive way to the side, to the back is a four car garage with extra storage space located to the back of the garage. The building has a beautiful brick façade with a wide frontage. The apartments are mostly two-bedroom units with a living/dining area and a full kitchen and bathroom. The apartments have been renovated with wood floors and stainless steel appliances. The bathrooms have been nicely tiled with modern bath tub and sink. All the units are free market except for apartment 1, and are located to the front and back of the building. There’s also a rooftop terrace.

All the units are individually metered for gas and electric, all of which is in the basement and in great condition. There’s a nice front porch on the first floor, nice gothic style front entrance. The common area has a strong and wide stair case. The top floor has a nice skylight and access to the rooftop terrace.

The building has great access to transportation, the 2, 3, 4 and 5 trains is on Utica & Eastern Parkway. The B46 bus runs along Utica Avenue and goes to Kings Plaza. Within 15 minutes the tenants can be in downtown Brooklyn and 30 minutes in Manhattan.

The property is a great user opportunity, a user can occupy the first two floor units by combing them and duplexing them with the basement. The upper floors can be used for rental income. The owner would have their own parking and collect income from the other garages and driveway.

The building is also a great investment opportunity with upside potential. When the units become vacant, the owner can give each apartment their own boiler and water heaters. The garages and drive- way can be rented out for more income. The hallways can be updated and would help the apartments get more income.

The property is also a great development opportunity. A developer can develop the property into a 14,196 square feet five story apartment building. The units can be a mixture of two and three bedroom apartments. The property can also be developed into a Church or Synagogue, with a buildable square footage of 28,042 for community facility.