Marcus & Millichap has successfully sold the following investment opportunity. 251-255 Bay Ridge Parkway is comprised of two contiguous six family buildings, totaling 12 residential rent-stabilized apartments located between Ridge Boulevard and 3rd Avenue in the Bay Ridge section of Brooklyn, New York. The subject properties are each three story buildings that measure 20 feet by 78 feet, with a combined size of 9,260 square feet. The 12 units are evenly broken down as six two-bedroom units as the rear layouts, and six one-bedroom units as the front layouts.

This is a unique opportunity to acquire a total of 12 rent-stabilized apartments, in a phenomenal location of Bay Ridge. Spread between two buildings on separate tax lots, a new owner can capitalize on a growing residential rental market that is now hovering around $37 per square feet for renovated product near the "R" train. With a renovated two bedroom unit already achieving $2,150 per month and another getting $2,000 per month, a new owner will take advantage of 10 other below-market rents upon tenant turn-over.

• Trophy 12 Unit Package on Bay Ridge Parkway
• 40 Feet of Frontage - 9,360 Total Square Feet
• Long-Term Ownership | Excellent Condition
• No Cut-Outs or Air-Shafts | Both Buildings Measure 20 Feet by 78 Feet
• One Boiler for Both Buildings | Several Renovated Apartments
• Steps From Starbucks, CitiBank and McDonalds
• Close to the "R" Train at 77th Street and 69th Street