361 Chestnut Ct Brooklyn, NY 11208
- Commercial real estate
- 2,280 SF
Current Use by Public Records
- Commercial real estate
Property Details for 361 Chestnut Ct
- Year built
- 1920
- Property size
- 2,280 SF
- Property type
- Commercial real estate
- APN
- 04157-0052
Description
This exceptional investment opportunity presents a charming, one-story, 3-unit apartment building situated on a 2,000 sq ft lot in Brooklyn, NY. Built in 1920, the 2,280 sq ft property is currently vacant, offering immediate potential for rental income. The building is zoned R5B, and importantly, includes 1,000 sq ft of air rights. Adjacent to the property is a vacant lot, also zoned R5B, providing a significant development opportunity. This lot offers the potential to construct an additional 900 sq ft structure, ideal for a single-family home or duplex, increasing the overall property value and rental income. The property's location in Brooklyn, near public transportation, shopping, and parks, ensures strong tenant demand. The asking price is $1,200,000, representing a compelling entry point into the Brooklyn real estate market. This is a rare chance to acquire a multifamily property with substantial development potential in a rapidly growing neighborhood. The property is offered as an estate sale. The APN is 04157-0052.
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
- -73.8739948
- Latitude
- 40.678309
