238 52Nd St Brooklyn, NY 11203
Property profile & analytics
Location Intelligence
Current Use by Public Records
- Specialty properties
Property Details for 238 52Nd St
- Property size
- 6,923 SF
- Property type
- Specialty properties
Description
This exceptional 9-unit multifamily property at 238 East 52nd Street, Brooklyn, NY 11203, presents a compelling investment opportunity. Recently constructed, this 6,923 square foot building boasts a mix of six one-bedroom units and three studios, including a luxurious penthouse unit complete with a private rooftop patio. The property is currently fully occupied, offering immediate cash flow. Several units are rented below market value, presenting a significant opportunity to increase revenue. The building benefits from a pending 421A tax abatement, substantially reducing annual costs. Located in the desirable East Flatbush neighborhood, this property enjoys excellent transit access, with the 2, 3, 4, & 5 trains at the nearby Sutter Ave - Rutland Rd station, and the B46 & B35 bus lines also easily accessible. The R6 zoning designation further enhances the property's long-term value and potential for future development. The building's strategic location in a growing residential area with high demand for newly renovated and affordable apartments ensures a consistent stream of potential tenants. This is a turnkey investment ready for an owner-operator to maximize its potential. The asking price is $3,850,000, translating to $556.12 per square foot. This represents a strong value proposition in the current market.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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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
- -73.929
- Latitude
- 40.6551
