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In Contract

578 Myrtle Avenue

$2,495,000 ($780 per ft2) | 4 beds, 2 baths | Approx. 3,200 ft2
Building Profile  | 
282 days on Market

Townhouse Facts

  • Year Built: 1910
    Minimum Down: 20%
    Total Floors: 3
    Listed: Feb 15, 2024
    Days on Market: 282
    Building Type: Townhouse
    Neighborhood: Clinton Hill (Brooklyn)
Monthly Real Estate Taxes: $408
Total Taxes & Fees: $408 ($0.13/ft2)
Est. Monthly Mortgage: $13,320
Total Est. Monthly Carrying Cost: $13,728 ($4.29/ft2)
Note: the above is based on a down payment of 20% ($499,000), which is the minimum amount permitted by the building.

Insider Highlights

  • Versatile Property: The 20-foot wide, 2-family brick townhouse includes a retail/commercial store currently rented to a popular neighborhood cafe, providing a turn-key income-generating opportunity.
  • Modern Renovations: The building has been gut renovated and modernized, blending pre-war charm from its 1910 construction with contemporary conveniences.
  • Spacious Living: Each apartment features a spacious and flexible 2-bedroom layout, complete with washer and dryer units installed, and access to a backyard.
  • Commercial Potential: The commercial space boasts high ceilings and includes a cellar for storage, with additional unused Floor Area Ratio (FAR) offering potential for expansion.
  • Prime Location: This property is situated in the highly sought-after Clinton Hill neighborhood, offering a unique mix of residential and commercial spaces.
  • Affordable Ownership: The property benefits from incredibly low monthly real estate taxes, making it an attractive investment.

Description

Here’s an incredible opportunity to own a mixed-use 20 foot-wide turn-key income-generating 2-family brick townhouse with 1 retail/commercial store on one of the best streets and locations in Clinton Hill with additional unused FAR.

The building is comprised of 2 gut renovated and modern floor-thru apartments (with washer and dryer units installed) each featuring spacious and flexible 2-bedroom layouts.

The ground floor is a fully built-out commercial retail space with high ceilings that includes a cellar for storage and access to the backyard. It is currently rented to a popular neighborhood cafe. The building has incredibly low taxes at.

The lot size is 19.67’x 98.67’ with additional FAR.

Please inquire for more details.

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Building Amenities

  • Pre War
  • In-Unit Washer/Dryer
Listing courtesy of Corcoran Group

Pricing History

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Area info for 578 Myrtle Avenue

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Subways

  1. G
at Classon Ave and Lafayette Ave 0.35 miles