Brooklyn Multifamily Asset with
488 Classon Avenue, Brooklyn, NY 11238
Residential Multi Family, Other - Brooklyn, NY
Lot size:
0.05 Acres- Added:
- Jan 16, 2026
- Days on Market:
- 122
- Last Refresh:
- May 18 at 9:06 pm
Property Features for 488 Classon Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Standard status
- Active
- Lot size
- 0.05 Acres
Building Details
- Year built
- 1899
- Architectural style
- Other
Listing agent Andy Jepson License #10401361253,PersonLicenseNumber (631) 513-7579
Listing office NextHome Finest First 150 Motor Pkwy, NY (631) 944-8404
Listing date Jan 16, 2026
MLS# 952816
Listing URL
Copyright © 2026 NextHome, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Income‑producing property with strong in‑place cash flow and potential for increased rental income.
- Flexible R6B zoning allows for multiple strategic options: income stabilization, value‑add enhancement, or repositioning.
- Mortgage‑hack opportunity: live in one unit and offset costs with rental income from other units.
- Two identical residential floors plus a full lower level provide operational efficiency and flexibility.
- Located in a desirable Brooklyn neighborhood with access to amenities, transportation, and strong tenant demand.
- Solid proportions, strong ceiling heights, and natural light with potential for cosmetic upgrades to maximize rent and resale value.
Overview
Located on Classon Avenue in Brooklyn, this property is legally a two-family residence currently utilized as three units, presenting an opportunity for investors or owner-occupants. Situated within an R6B zoning district, the property allows for multiple strategic paths, whether your objective is income stabilization, value-add enhancement, or thoughtful repositioning over time. The building is configured with two identical residential floors plus a full lower level. The mirrored upper floors provide consistent room sizes, natural light, and functional layouts that lend themselves seamlessly to modernization or long-term rental use. The repetition of the design simplifies renovation planning and supports scalable upgrades, while the lower level currently contributes to income adds further versatility for storage, recreation, work-from-home space, or alternative use depending on buyer strategy. Interior spaces feature solid proportions, strong ceiling heights, and excellent natural flow, with a mix of updated finishes and clear potential for cosmetic enhancement. The property benefits from a well-established residential setting surrounded by classic Brooklyn architecture, neighborhood conveniences, and consistent tenant demand. The area offers access to local dining, shopping, transportation, and community amenities, while continuing to attract reinvestment and long-term appreciation. The lot size is 0.05 acres.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Rich At heart
Clothes Market
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9591758
- Latitude
- 40.6835262
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Two-family property utilized as three units with income potential.
Where is this multifamily property located?
The property is located at 488 Classon Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Income‑producing property with strong in‑place cash flow and potential for increased rental income.; Flexible R6B zoning allows for multiple strategic options: income stabilization, value‑add enhancement, or repositioning.; Mortgage‑hack opportunity: live in one unit and offset costs with rental income from other units.
