$1,988,000
 $10,672 est/mo Sourced by Back At You

1565 70th Street,Brooklyn, NY 11228

Brooklyn, NY 11228

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Description

Excellent investment opportunity! This well-maintained 6-family property underwent a complete gut renovation in 2011 and has been meticulously maintained ever since. The extensive renovation included structural steel beam reinforcement, all new plumbing and sewer lines, a fully updated electrical system, separate heating and hot water systems for each unit, all new windows, a new metal staircase, and complete reconfiguration of the apartments with new kitchens, bathrooms, and flooring throughout. The property consists of six residential units, including two spacious 3-bedroom, 1-living room apartments and four 3-bedroom apartments with large eat-in kitchens, plus a basement currently rented as storage for additional income that can be delivered vacant at closing. Current rental income totals $13,626 per month ($163,512 annually), including basement income. Annual operating expenses are approximately $32,093, consisting of property taxes of $20,973, water and sewer charges of $5,400, insurance of $5,000, and electric of approximately $720, resulting in a strong Net Operating Income (NOI) of approximately $131,419 per year. With stable cash flow, separate utilities, low maintenance requirements, and significant long-term upside potential, this property presents an outstanding opportunity for investors seeking a turnkey income-producing asset.

Details

MLS #502527
Listing TypeFor Sale
StyleHouse
Sub-TypeResale
StatusActive
Year1926
Days On Site92
Listing Provided ByTiger Realty | Emily Hui Chen-Liang

Features

Bed(s)18
SQ Feet4,680
BasementY
Story(s)3
Units6
ZoningR5

Interior

Heating FuelGas

Exterior

ExteriorBrick
RoofFlat
Construction MaterialsBrick
Foundation DetailsPoured Concrete

Parking

Parking AttributesOther
Parking Feature SingleOther

Utilities

Electric110 V

Taxes

Tax Amount20768.00

Area Information

StateNY
CountyKings (Brooklyn)
CityBrooklyn
Zip Code11228
AreaBrooklyn
SubareaBensonhurst
Listing VS Median (in 11228)
Price:
$1,988,000
low | high
Med:
$1,399,000
79.627766599598% of Average
sqft:
4,680
low | high
Med:
1,410
100% of Average
$ / sqft:
$425
low | high
Med:
$992
83.575923626868% of Average
On site:
92
low | high
Med:
1
100% of Average
Sourced by Back At You

Market Activity 11228

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Learn More About This Property

Gregory Kyroglou

Gregory Kyroglou

Modern Spaces New York

 (917) 916-6776greg@modernspaces.com
StateNY
CountyKings (Brooklyn)
CityBrooklyn
Zip Code11228
AreaBrooklyn
SubareaBensonhurst
Listing VS Median (in 11228)
Price:
$1,988,000
low | high
Med:
$1,399,000
79.627766599598% of Average
sqft:
4,680
low | high
Med:
1,410
100% of Average
$ / sqft:
$425
low | high
Med:
$992
83.575923626868% of Average
On site:
92
low | high
Med:
1
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $1.491M - $2.485M
sqft: 3,500 - 5,500
Nearby Listings Property ImageNearby Listings Details
1564 Bay Ridge Avenue Property Photo 1
$1,489,000
1564 Bay Ridge Avenue
Brooklyn, NY 11219
1536 68th Street Property Photo 1
$2,100,000
1536 68th Street
Brooklyn, NY 11219
Listing Updated: July 17, 2026 at 10:25:21 AM PDT
Gregory Kyroglou
(917) 916-6776
Astoria - 29-20 23rd Ave.
Astoria, New York 11105

Gregory Kyroglou - Modern Spaces New York