New York, NY 11203

Property

Ownership: For Sale
Type: Multi-Family
Bedrooms: Studio

Financials

Price:$3,999,000
Annual Taxes:$28,000
578 Driggs Avenue Brooklyn, NY 11211
Listing Courtesy of Real Estate Concept Group Inc

Fully Renovated Mixed Use Property for Sale This turnkey, fully occupied mixed use property presents a compelling investment opportunity with immediate, stable cash flow and strong long term upside in ...

Description

Fully Renovated Mixed-Use Property for Sale This turnkey, fully occupied mixed-use property presents a compelling investment opportunity with immediate, stable cash flow and strong long-term upside in a rapidly developing Brooklyn corridor. Residential Component Four (4) fully renovated apartments (2) Four-bedroom units (2) Two-bedroom units Each unit features independent boilers for separate heating control 100% occupied with Section 8 tenants, providing reliable, government-backed income All Apartments Free Market with annual leases Commercial Component Two Street-level retail storefront(s) Fully renovated spaces Separate utilities for commercial tenants Investment Highlights Minimal owner expenses: landlord responsible only for water and common area electricity Fully upgraded systems: plumbing, electrical, and heating Immediate cash flow Strong tenant demand in high-growth submarket Location & Growth Drivers Strategically located near major development projects expected to significantly enhance the area’s residential density and economic activity: 329 Clarkson Avenue (Clarkson Estates) – ~328 Units Finished 2026 564 Utica Avenue (Utica Crescent) – ~325 Units Under Development These projects, along with additional nearby developments, are projected to bring **over 1,000 new residential units within a 2-mile radius by 2027**, driving increased foot traffic, rental demand, and long-term asset appreciation. Investment Summary This offering combines: Stable, government-backed residential income Retail upside potential Low management intensity Positioning in a growth corridor Ideal for investors

Amenities

  • Cable - Available
  • Cable Connected
  • Electricity Available
  • Electricity Connected
  • Fire Alarm
  • Fire Escape
  • Natural Gas Available
  • Natural Gas Connected
  • Phone Available
  • Phone Connected
  • Security System
  • Sewer Available
  • Sewer Connected
  • Trash Collection Public
  • Underground Utilities
  • Water Available
  • Water 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.