2224 Fulton St Brooklyn, NY 11233
Call to check price and availability
Prime Brooklyn 3-unit building, high potential.
Property size:
2,400 SFProperty Features for 2224 Fulton St
General Information
- Property type
- Multifamily properties
- Square Feet
- 2,400 SF
- Class
- B
Building Details
- Buildings
- 1
- Stories
- 3
- Units
- 3
Listing Agency: Brown Harris Stevens Listing Agent: Kervin Vales
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional three-unit apartment building at 2224 Fulton Street in Brooklyn, New York, presents a compelling value-add investment opportunity. The property boasts a 20-foot wide footprint and comprises three two-bedroom, floor-through units, each featuring a full kitchen, bathroom, and living/dining area. Currently operating at 100% occupancy, the building generates a pro-forma NOI of $66,773, representing a 4.45% pro-forma cap rate on the $1,500,000 asking price. Individual electric and gas meters are in place for each unit. The first floor provides convenient access to the basement and backyard. The building sits on a 2,000 square foot lot and offers significant upside potential. With 2,400 square feet of existing space and an additional 2,460 square feet of air rights, there's ample room for expansion and renovation. The R6 (2.43) zoning permits various development options, including the creation of larger units by extending the building's rear and developing the top floor into a duplex. The property's location in Ocean Hill offers easy access to Downtown Brooklyn and Manhattan via the A, C, and L trains at Broadway Junction, a rapidly developing area with new construction and retail. The current price per unit is $500,000. This property is ideal for both owner-occupants seeking rental income and developers looking to capitalize on the area's growth and the building's development potential.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
The RIF Church
Church
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9073421
- Latitude
- 40.6779322
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Prime Brooklyn 3-unit building, high potential.
Where is this multifamily property located?
The property is located at 2224 Fulton St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Exceptional investment opportunity: renovate apartments and achieve market-rate rents.; Individual unit boiler and water heater systems.; Owner-user opportunity: live on the first floor and rent the upper floors; or create a duplex garden apartment.