SOLD FOR $1,480,000
Listed at $1,510,000 · Sold 2.0% below asking · Closed March 8, 2022
551 82nd Street
MLS® #RLS10761064
Listing by Keller Williams Realty Empire
10
Bedrooms
8.5
Baths
4,672
Sq. Ft.
1928
Year Built
Quick Summary
Property Highlights
- Style: Prewar architecture
- Character: Pre-war building (1928)
Property Details
Description
This property is 25ft wide x 73 ft deep with 6 two-bedroom 1 Bathroom (4 out of 6 units are renovated with new bath and/or new kitchen). Seller maintained the building throughout the years so low maintenance for new buyers. Seller also paid to CONVERT TO GAS HEAT (signed off). Seller spends a lot of money to put in NEW ROOF, NEW BOILER, NEW ELECTRIC, NEW SIDEWALK, so it gives buyers peace of mind. The seller has been keeping up with legal rent roll throughout the years so there's more profit margin for new buyers. This is a GREAT investment property that yields you a 6% CAP RATE at the current rent and layout. There is future potential for 2 duplexes on first and ground level. There is also a laundry hook-up for future coin-operated washers and dryers. Gross Annual Rent Roll: $128,357; Expenses: $34,643; NOI: $93,714; CAP RATE: 6%. Close to transportation (R train, B16, B70, and BQE 278), 5th Ave and 3rd Ave Restaurants, 86th Street Bay Ridge Shopping with Major Brands (86bid.org), proximity to Dyker Beach Dog Park for small and big dogs.
Building Information
About Bay Ridge
View All Bay Ridge ListingsBay Ridge is a historic neighborhood in Southwest Brooklyn, known for its stunning views of the Verrazzano-Narrows Bridge and the New York Harbor. The area offers a vibrant lifestyle with the bustling commercial corridors of 3rd and 5th Avenues. The real estate market is a sophisticated blend of grand historic row houses, elegant pre-war cooperatives, and modern condominiums, all within a neighborhood famous for its parks and waterfront promenade.
Bay Ridge Live Market Data
View NeighborhoodActive Listings
30
Median Asking Price
$822K
Median $/Sqft
$523
Avg Days on Market
N/A
New This Week
2
Price Reduced
37%
Sold (30 Days)
7
Median Sale Price
$460K
Live data from RLS at REBNY • Updated 3/24/26, 8:58 AM EST
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Location
551 82nd Street, Bay Ridge, Kings County • Near 6th Avenue/5th Avenue
Listing Data
RLS® at REBNY (Real Estate Board of New York) via Trestle API. Updated in real-time.
Market Data
RLS® at REBNY (Real Estate Board of New York). Live data updated in real-time.
Map & Location
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Listing Courtesy of Keller Williams Realty Empire - Hui-Bing Katie Wu
Listing Contact: (718) 954-8599
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RLS Data display by Keller Williams NYC. Data last updated on 3/24/2026 at 12:58 PM UTC