Property

Ownership: For Sale
Type: Multi-Family
Bedrooms: Studio
Pets: Pets No

Financials

Price:$7,400,000
Annual Taxes:$245.96
578 Driggs Avenue Brooklyn, NY 11211
Listing Courtesy of Best In The Market Realty Inc

Description

Located in the heart of thriving Bedford-Stuyvesant, this rare condo-up building offers a compelling opportunity for investors seeking strong cash flow and long-term upside in one of Brooklyn’s most dynamic neighborhoods. Built just 10 years ago and maintained in excellent condition, the building features eight residential condominiums and two fully leased ground-floor community facility spaces. The residential portion includes a mix of spacious two-bedroom, two-bath and three-bedroom, two-bath units, each designed with modern layouts, quality finishes, and abundant natural light. All units are individually metered and separately taxed, offering flexibility for future resale or continued rental income. The building provides the perfect blend of boutique design and investment-grade functionality. The ground-floor community facilities are currently leased to a well-established daycare tenant, providing a reliable and steady stream of income. With full occupancy across all units and tenants in place, the building currently generates a healthy 6.3% cap rate, making it an ideal turnkey investment for both seasoned and first-time multifamily investors. Situated on a quiet, tree-lined street, the property benefits from its central Bed-Stuy location—surrounded by cafes, retail, parks, and multiple transit options. The neighborhood continues to see strong residential and commercial growth, driving long-term appreciation and tenant demand. This is a rare opportunity to acquire a fully leased, income-producing asset in a prime Brooklyn location with strong financials and excellent condition. Whether you're looking for a 1031 exchange, a long-term hold, or a smart addition to your portfolio, this property checks all the boxes. Full financials and setup sheet available upon request

Amenities

  • Cable Connected
  • Electricity Available
  • Water Available

Located in the heart of thriving Bedford Stuyvesant, this rare condo up building offers a compelling opportunity for investors seeking strong cash flow and long term upside in one of ...


Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.