2911 Avenue D Brooklyn, NY 11226

Property Details for 2911 Avenue D

Year built

1935

Property size

2,200 SF

Property type

Apartment buildings

Description

This vacant, two-unit apartment building at 2911 Avenue D in Brooklyn, NY, presents a compelling value-add investment opportunity. The property, built in 1935, features a total of 2,200 square feet across two stories, with each unit boasting three bedrooms and 10-foot ceilings. Currently vacant, this allows for complete renovation and repositioning to maximize rental income. Each unit is individually metered for gas and electric, with meters located in the basement. The building sits on a 1,800 square foot lot and is zoned R6, offering significant potential. A key advantage is the substantial 2,174 square feet of available air rights, allowing for a vertical expansion to significantly increase the property's value. The first floor unit could be duplexed with the basement, further enhancing its appeal. The property's location near Nostrand & Newkirk Avenues provides convenient access to the 2 and 5 subway lines, and the surrounding area offers a variety of retail, grocery, and dining options. This property is ideal for both investors seeking to renovate and rent, or owner-occupants looking to create a duplex and generate rental income from the upper unit. The asking price is $1,150,000, or $575,000 per unit. The price per square foot is $522.73.