Listing Notes
Investor Opportunity - Legal 4-Family with Significant Upside Unlock the potential of this legal 4-family brick building offering immediate value-add opportunities in one of Brooklyn's established residential neighborhoods. Whether you're looking to renovate, reposition, or expand your portfolio, this property presents multiple avenues to increase cash flow and long-term equity. The building consists of three 2-bedroom apartments and one spacious 3-bedroom apartment. Two of the 2-bedroom units are vacant, providing the rare opportunity to renovate and lease at today's market rents from day one. A third 2-bedroom unit is occupied by non-paying tenants, while the 3-bedroom apartment is occupied by long-term tenants paying below market rent, creating additional upside for investors with a long-term asset management strategy. Solid brick construction, generous apartment layouts, and multiple vacant units make this an increasingly hard-to-find opportunity for investors seeking to add value through renovations and improved operations. Property Highlights: Legal 4-family brick building (3) Two-bedroom apartments (1) Three-bedroom apartment Two vacant 2-bedroom units ready for renovation or immediate repositioning One occupied 2-bedroom unit with non-paying tenants One occupied 3-bedroom unit cooperative tenants paying below-market rent Strong value-add and income-growth potential Ideal for experienced investors, developers, or multifamily operators Opportunity to significantly increase NOI through strategic improvements and lease optimization Properties offering this combination of vacant units, rental upside, and long-term appreciation potential are becoming increasingly scarce. Bring your vision and capitalize on the opportunity to transform this asset into a high-performing investment. Being sold as-is. Buyer to perform their own due diligence regarding tenancy, rents, and building condition.
Price in context
Cheaper than 50% of the 24 homes listed nearby right now, which run $575,000 to $1,380,000.
See all 24 nearby listings
| Address | Asking | Size |
|---|---|---|
| 1570 Prospect Pl Apt 2 | $575,000 | 2 bd · 2 ba |
| 121 Legion St | $649,000 | 5 bd · 2 ba |
| 1570 Prospect Pl Apt 6 | $660,000 | 2 bd · 2 ba |
| 1588 Lincoln Pl | $748,000 | 3 bd · 2 ba |
| 285 E 95th St | $800,000 | Studio |
| 285 E 95th St | $800,000 | Studio |
| 637 Saratoga Ave | $825,000 | 4 bd · 2 ba |
| 2052 Union St | $850,000 | 6 bd · 2 ba |
| 286 Rockaway Pkwy | $850,000 | 4 bd · 3 ba |
| 1655 Lincoln Pl | $875,000 | 5 bd · 3 ba |
| 1501 Eastern Pkwy | $890,000 | Studio |
| 1501 Eastern Pkwy | $950,000 | Studio |
| 1596 Lincoln Pl | $975,000 | 5 bd · 3 ba |
| 31 Tapscott St | $979,999 | 6 bd · 2 ba |
| 1034 Winthrop St | $999,999 | 6 bd · 3 ba |
| 170 E 96th St | $1,000,000 | 11 bd · 6 ba |
| 131 E 93rd St | $1,050,000 | 7 bd · 6 ba |
| 199 E 94th St | $1,194,999 | 9 bd · 4 ba |
| 1102 Winthrop St Apt 4 | $1,200,000 | 7 bd · 4 ba |
| 1128 Clarkson Ave | $1,200,000 | 3 bd · 2 ba |
| 211 E 96th St Apt 4 | $1,249,000 | 8 bd · 4 ba |
| 135 E 92nd St Unit 2 | $1,250,000 | 6 bd · 3 ba |
| 105 Rockaway Pkwy | $1,300,000 | 10 bd · 4 ba |
| 476 Ralph Ave | $1,380,000 | 8 bd · 4 ba |
Where it is
For sale Coming soon Recently sold— zoom out for more