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    243 Troy Ave Brooklyn, NY 11213

    For Sale
    $3,750,000

    12 Units, Updated, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional mixed-use property, located at 243 Troy Ave in the vibrant Crown Heights section of Brooklyn, presents a compelling investment opportunity. The four-story walk-up building, constructed in 1907 and extensively renovated in 2019, boasts a total of 12 residential apartments and 5 commercial spaces. The building's strategic location offers easy access to a wealth of amenities, including shopping, dining, and entertainment venues. A significant advantage is its proximity to the Utica Avenue Station, providing convenient access to the 2, 3, and 4 subway lines. The apartment mix includes a balance of free-market and rent-stabilized units, with 75% of the residential units having undergone a complete gut renovation. This ensures a strong current income stream and potential for future appreciation. The building's solid construction and recent upgrades, combined with its desirable location and diverse income streams, make this a truly remarkable investment opportunity in a thriving Brooklyn neighborhood. The asking price for this 12-unit apartment building is $3,750,000. This property offers a blend of residential and commercial space, providing a diversified income stream and significant potential for long-term growth. The Kings County location provides access to a robust and growing market.

    Property Features for 243 Troy Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built/Renovated
    1907/2019
    Buildings
    1
    Stories
    4
    Units
    12

    HighLights

    • $3,750,000 asking price.
    • Mixed‑use property with 12 apartment units and 5 commercial spaces.
    • 12‑unit, 4‑story walk‑up building.
    • 50% free‑market units.
    • 75% of units gut‑renovated in 2019.
    • Located in Crown Heights, Brooklyn, near transit, shopping, and dining.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Three in one nail ... Beauty Salon Cien Credit Repair ... Credit Counseling Service Allan Gershberg Agency Insurance Agency

    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
    -73.93616
    Latitude
    40.67103

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    FAQs

    What type of property is this?
    Multifamily property - 12 Units, Updated, Prime Location
    Where is this multifamily property located?
    The property is located at 243 Troy Ave Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $3,750,000.
    What are key features of this property?
    This property features: $3,750,000 asking price.; Mixed-use property with 12 apartment units and 5 commercial spaces.; 12-unit, 4-story walk-up building.
    Request Owner's contact information
    243 Troy Ave Brooklyn, NY 11213
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    Brooklyn, NY 11213
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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
    243 Troy Ave Brooklyn, NY 11213
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