New York, NY 11230

Property

Ownership: For Sale
Type: Multi-Family
Bedrooms: Studio
Pets: No Pets Allowed
Lot Size: 0.06 Acres

Financials

Price:$1,499,000
Annual Taxes:$21,925.40
578 Driggs Avenue Brooklyn, NY 11211
Listing Courtesy of Triolo Realty Group Inc

Welcome to 765 East 9th Street a rare, long held 6 family building in the heart of Midwood, Brooklyn.

View of front of property with brick siding

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!

Amenities

  • Electricity Available
  • Natural Gas Available
  • Natural Gas Connected

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.