124 CORTELYOU RD BROOKLYN NY 11218
About This Property
Marketing description
124 Cortelyou Road is a fully renovated six-unit, rent-stabilized multifamily building located in the Kensington / Ditmas Park area of Brooklyn. The property is a three-story brick walk-up comprised of six residential apartments, all rent stabilized, offering a stable and regulated income profile in a high-demand Brooklyn submarket.
The building has been well maintained with recent capital improvements, including a roof approximately five years old, upgraded common areas, and clean, organized mechanical systems. Several of the apartments are rented below current market levels, providing room for continued rent growth through annual guideline increases and vacancy allowances within the rent-stabilized framework. The property also includes a full basement currently used for storage and utilities, with potential to be utilized as a superintendent’s office and/or owner-use space, subject to DOB and HPD approvals.
Investment highlights
Property Highlights
- Six (6) residential units
- Fully renovated and well maintained
- Roof approximately 5 years old
- Below-market rents in place with upside through legal increases
- Full basement with potential super/owner-use configuration
- Clean, accessible mechanical and utility rooms
- Prime Kensington / Ditmas Park location
- Close proximity to B/Q and F subway lines
- Walkable to retail, dining, and neighborhood amenities
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