1281 Nostrand Ave
Listing Notes
Excellent Value-Add Investment Opportunity in Prospect Lefferts Gardens! 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.
Price in context
Cheaper than 25% of the 24 homes listed nearby right now, which run $1,249,000 to $2,999,999.
See all 24 nearby listings
| Address | Asking | Size |
|---|---|---|
| 14 E 32nd St | $1,249,000 | 3 bd · 1 ba |
| 14 E 32nd St Lot 13 | $1,249,000 | — |
| 373 Rutland Rd Unit 5A | $1,275,000 | 2 bd · 2 ba |
| 373 Rutland Rd Unit 2A | $1,295,000 | 3 bd · 2 ba |
| 246 Maple St Ph A | $1,295,000 | 3 bd · 2 ba |
| 359 Winthrop St | $1,299,000 | 11 bd · 5 ba |
| 373 Rutland Rd Unit 1A | $1,375,000 | 3 bd · 2 ba |
| 373 Rutland Rd Unit 1A | $1,375,000 | 3 bd · 2 ba |
| 625 New York Ave Apt 6B | $1,395,000 | 3 bd · 2 ba |
| 285 Winthrop St | $1,450,000 | 4 bd · 3 ba |
| 285 Winthrop St | $1,450,000 | 4 bd · 3 ba |
| 625 New York Ave Apt 6A | $1,495,000 | 3 bd · 2 ba |
| 343 Rutland Rd | $1,500,000 | 4 bd |
| 562 Rogers Ave | $1,590,000 | 8 bd · 4 ba |
| 358 Linden Blvd | $1,625,000 | 8 bd · 4 ba |
| 250 Midwood St | $1,695,000 | 3 bd · 2 ba |
| 2809 Church Ave | $1,895,000 | 1 ba |
| 1105 Nostrand Ave | $2,199,999 | 5 bd · 4 ba |
| 1281 Nostrand Ave | $2,200,000 | 12 bd · 6 ba |
| 319 Hawthorne St | $2,250,000 | 3 bd · 4 ba |
| 296 Fenimore St | $2,250,000 | 3 bd · 3 ba |
| 287 Midwood St | $2,495,000 | 4 bd · 4 ba |
| 277 Midwood St | $2,850,000 | 4 bd · 4 ba |
| 346 Linden Blvd | $2,999,999 | 9 bd · 5 ba |
Where it is
For sale Coming soon Recently sold— zoom out for more