503 Avenue U Brooklyn, NY 11223
- Apartment buildings
- 2,100 SF
Current Use by Public Records
- Apartment buildings
Property Details for 503 Avenue U
- Property size
- 2,100 SF
- Property type
- Apartment buildings
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Brooklyn
- County
- Kings
- State
- New York
- Longitude
- -73.9666
- Latitude
- 40.5977
