Multi-family homes a hot commodity in Sunset real estate market

As of late, many multiple-family dwellings have been put up for sale in Sunset Park, averaging asking prices in and around $3 million.

One property, built in 1910 and located at 726 59th Street, sits at an asking price of $2.1 million. It is a two-family, attached brick home with two apartments and a finished basement. The first floor apartment is a two-bedroom with one bathroom, while the apartment on the second floor has three bedrooms and one bath.

Another listing, with an asking price of $2.2 million and located at 5718 Third Avenue, is a four story mixed-use apartment building with two commercial spaces on the ground floor. The building, built in 1931, is legally an eight family building. However with the two commercial spaces there are just six one bedroom-one bathroom railroad style apartments, which are rent stabilized, and already have permanent occupants. The building is being sold with the units occupied.

Another property, 337 48th Street, is listed for $3 million. The new construction, completed in 2010, has six apartments, each with a bathroom and bedroom, while two of the apartments have an additional second bedroom. Almost all of the units have a private balcony.

A fourth property, located at 5608 Sixth Avenue, is a nine family home, with two vacant apartments. One of the apartments has two full bathrooms. The building, built in 1906, is listed at $3.99 million and has the possibility of being re-zoned to change to a commercial building.

5718 Third Avenue/Photo: Compass Real Estate.
5718 Third Avenue/Photo: Compass Real Estate.

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