Sutlingar Realty
Listed by Sutlingar Realty
$1,150,000
685 Rockaway Parkway
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,000
Units 3
Cap Rate 7.65%
NOI $88,000
Price per SqFt $383
Class B
Income Producing Property In Canarsie 2 Blocks From Brookdale Hospital
Marketing description
Discover incredible versatility and value in this spacious semi-detached 2-family home located in the heart of Canarsie, Brooklyn — just two blocks from Brookdale Hospital. Currently operating as a 3-family, this property offers approximately 3,000 sq. ft. of living space, featuring three 3-bedroom, 1.5-bath units with bright layouts and strong rental demand.
Situated in a well-established Canarsie neighborhood, this property offers convenience, income, and flexibility — perfect for investors, developers, or end-users looking for a high-performing multi-family opportunity in Brooklyn.
Investment highlights
- Legal 2-family configured as 3 units
- 3,000 sq. ft. building on a deep lot
- Each unit: 3 bedrooms, 1.5 baths
- Generates $88,000 per year in rental income
- New windows and 2-year-old boiler
- Interiors ready for cosmetic upgrades
- Ground floor previously approved as a licensed day care
- Option to combine ground and first floors into a grand owner’s duplex with outdoor space
- Deep lot suitable for an Accessory Dwelling Unit (ADU) for added living space or income
- Prime location – just 2 blocks from Brookdale Hospital, close to shopping, schools, parks, and public transportation
Listing Contacts
Sutlingar Realty
Listed by Sutlingar Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$88,000.00
$7,333.33/mo
Valuation Metrics
0
DSCR
7.65%
Cap Rate
7.65%
ROI
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