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    503 Avenue U Brooklyn, NY 11223

    Sponsored
    For Sale
    $2,500,000

    Historic building, high potential.

    Property size:
    2,100 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional investment opportunity presents a 2,100 square foot multifamily property located at 503 Avenue U in Brooklyn, Kings County, New York, 11223. Built in 1930 and zoned R6A,C1-4, this property offers significant potential for redevelopment or repositioning. Currently configured as a commercial space, with the first floor utilized as a store and the second floor as an office, the building presents a unique chance to capitalize on the vibrant Brooklyn market. The asking price is $2,500,000. While the number of units is currently listed as zero, the zoning and existing structure suggest potential for conversion or expansion. The property's location in a dynamic Brooklyn neighborhood provides excellent access to transportation, amenities, and a strong tenant pool. This is an ideal acquisition for investors seeking a value-add opportunity in a high-demand area. Further due diligence is recommended to fully assess the potential of this unique property. The property's historical character combined with its commercial zoning makes it a compelling investment prospect. Serious inquiries are encouraged.

    Property Features for 503 Avenue U

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,100 SF

    Building Details

    Year Renovated
    1930

    HighLights

    • $2,500,000 asking price.
    • Multifamily apartment building.
    • 2,100 square feet.
    • 1930 renovation.
    • R6A, C1‑4 zoning.
    • Located at 503 Avenue U, Brooklyn, NY 11223.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office 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
    -73.966633969485
    Latitude
    40.59773171581

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    FAQs

    What type of property is this?
    Multifamily property - Historic building, high potential.
    Where is this multifamily property located?
    The property is located at 503 Avenue U Brooklyn, NY.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: $2,500,000 asking price.; Multifamily apartment building.; 2,100 square feet.
    Request Owner's contact information
    503 Avenue U Brooklyn, NY 11223
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    Brooklyn, NY 11223
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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
    503 Avenue U Brooklyn, NY 11223
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