78 Cornelia St, Brooklyn, NY 11221

Property Description

Presenting an excellent opportunity to own a well-maintained 3-family property in the heart of Bushwick generating $11,710 per month in total rental income, or $140,520 in annual gross rent. The first-floor unit features 2 bedrooms and 2 full bathrooms, direct backyard access, split-zone heating and air conditioning, and baseboard heat, while the second- and third-floor units each offer 3 bedrooms and 2 full bathrooms, including a primary bedroom with a walk-in closet. The property also includes a spacious open-concept basement with a half bathroom, providing valuable additional space. Utilities are separately metered with 4 electric meters and 4 gas meters, including dedicated meters for each apartment and the common/public areas, and the gas boiler and hot water tank were installed in 2021. Situated on a 20' x 100' lot with R6 zoning, the property contains approximately 3,000 square feet with an actual FAR of 1.50, compared with a maximum residential FAR of 2.43, indicating approximately 4,860 square feet of maximum residential floor area and an estimated 1,860 additional buildable square feet, subject to zoning, DOB approval, and independent verification. Transportation is a major convenience, with the J train at Halsey Street approximately 0.23 miles away, J/Z trains at Gates Avenue approximately 0.37 miles away, J/Z trains at Chauncey Street approximately 0.48 miles away, the L train at Wilson Avenue approximately 0.60 miles away, and the M train at Knickerbocker Avenue approximately 0.67 miles away, providing multiple options for convenient travel throughout Brooklyn and into Manhattan. With a desirable three-family configuration, spacious multi-bath layouts, separate utilities, strong existing rental income, excellent transit access, and potential unused development rights, this property presents a compelling opportunity for investors or owner-occupants alike. Property is being sold as-is. All information is deemed reliable but is not guaranteed.AGENT/BROKER INFO