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    359 88Th St Brooklyn, NY 11209

    Sponsored
    For Sale
    $975,000

    Four-unit potential, vacant, value-add.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional value-add investment opportunity presents a vacant four-unit multifamily property situated at 359 88th Street in Brooklyn, New York, within Kings County, zip code 11209. Currently configured as a two-story, semi-detached three-bedroom frame house, this property offers significant potential for redevelopment into a multi-unit building. The asking price is $975,000. The property is classified as Class C and is currently vacant, presenting a blank canvas for a savvy investor. Its prime location, just one block from the bustling 86th Street shopping district and subway access, ensures high demand and strong rental potential. Schools are also conveniently located nearby. The property's existing structure provides a solid foundation for expansion or renovation, making it an ideal project for those seeking to capitalize on Brooklyn's thriving real estate market. This is a rare chance to acquire a vacant multifamily property in a high-demand area with the potential to significantly increase the number of rental units and generate substantial returns. The property's current state allows for complete customization to maximize rental income and property value. This is a truly unique opportunity for an investor looking for a hands-on project with significant upside.

    Property Features for 359 88Th St

    General Information

    Property type
    Multifamily properties
    Class
    C

    Building Details

    Buildings
    1
    Stories
    2
    Units
    4

    HighLights

    • $975,000 asking price.
    • Four‑unit multifamily property (Single Family Rental Portfolio).
    • Value‑add investment opportunity.
    • Class C property.
    • Currently vacant.
    • Two‑story building.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Brooklyn
    County
    Kings
    State
    New York
    Longitude
    -74.0153231
    Latitude
    40.6385229

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    FAQs

    What type of property is this?
    Multifamily property - Four-unit potential, vacant, value-add.
    Where is this multifamily property located?
    The property is located at 359 88Th St Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: $975,000 asking price.; Four-unit multifamily property (Single Family Rental Portfolio).; Value-add investment opportunity.
    (347) 623-0716
    Request Owner's contact information
    359 88Th St Brooklyn, NY 11209
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    Brooklyn, NY 11209
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    359 88Th St Brooklyn, NY 11209
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