UPDATED:
Key Details
Property Type Other Types
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Prospect Lefferts Gardens
MLS Listing ID 1024049
Rental Info No
Year Built 1931
Annual Tax Amount $14,246
Lot Size 2,112 Sqft
Acres 0.0485
Property Sub-Type Multi Family
Source onekey2
Property Description
MYNY Residential is proud to present 1281 Nostrand Avenue, a well-maintained six-family apartment building located in the heart of the highly sought-after Prospect Lefferts Gardens neighborhood of Brooklyn.
This rent-stabilized six-unit building presents a rare opportunity for investors to increase cash flow through leasing its vacant units. Four of the six apartments are currently vacant, including three beautifully renovated units that are move-in ready and projected to rent for approximately $2,400 per month each apartment.
Once fully leased, the property has a projected annual gross rental income of approximately $143,544, making it an attractive value-add investment with strong long-term income potential.
Additional features include an updated roof, approximately 4,500 square feet of residential space, and R6/C2-3 zoning, with approximately 1,837 square feet of additional buildable area (subject to architect and NYC DOB verification), offering future development potential.
Conveniently located near Prospect Park, the 2 and 5 subway lines, shopping, restaurants, and neighborhood amenities, this property is ideally positioned in one of Brooklyn's most desirable and rapidly appreciating neighborhoods.
Whether you're an experienced investor or looking to expand your multifamily portfolio, 1281 Nostrand Avenue offers an outstanding opportunity to acquire a classic Brooklyn apartment building with immediate upside and long-term appreciation potential.
Location
State NY
County Kings (brooklyn)
Rooms
Basement Full, Walk-Out Access
Interior
Heating Heat Pump, Oil
Cooling None
Fireplace No
Exterior
Parking Features None
Utilities Available Electricity Connected, Sewer Connected, Water Connected
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
Elementary Schools Ps 397 Foster-Laurie
Middle Schools Parkside Prep Academy
High Schools Brooklyn 17
School District Brooklyn 17
Others
Special Listing Condition None
NEARBY SCHOOL & BUSINESS
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Randy Reis
Team Leader | License ID: 40RE1176716
Team Leader License ID: 40RE1176716