1281 Nostrand Avenue, Brooklyn, NY 11226

Property Description

Excellent Value-Add Investment Opportunity in Prospect Lefferts Gardens! MYNY Residential is proud to present 1281 Nostrand Avenue, a well-maintained six-family apartment building located in the heart of the highly sought-after Prospect Lefferts Gardens neighborhood of Brooklyn. This rent-stabilized six-unit building presents a rare opportunity for investors to increase cash flow through leasing its vacant units. Four of the six apartments are currently vacant, including three beautifully renovated units that are move-in ready and projected to rent for approximately $2,400 per month each apartment. Once fully leased, the property has a projected annual gross rental income of approximately $143,544, making it an attractive value-add investment with strong long-term income potential. Additional features include an updated roof, approximately 4,500 square feet of residential space, and R6/C2-3 zoning, with approximately 1,837 square feet of additional buildable area (subject to architect and NYC DOB verification), offering future development potential. Conveniently located near Prospect Park, the 2 and 5 subway lines, shopping, restaurants, and neighborhood amenities, this property is ideally positioned in one of Brooklyn's most desirable and rapidly appreciating neighborhoods. Whether you're an experienced investor or looking to expand your multifamily portfolio, 1281 Nostrand Avenue offers an outstanding opportunity to acquire a classic Brooklyn apartment building with immediate upside and long-term appreciation potential.