Jeffrey Farnell - Smitchger Realty Logo
$2,888,000
( $424.71Per Sq Foot )
 $15,503 est/mo Sourced by Back At You

498 Classon Avenue,Brooklyn, NY 11238

Brooklyn, NY 11238

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Description

Calling All Investors, Developers, & End-Users!!! 100% Occupied 3 Unit Free Market Apartment Building In Clinton Hill For Sale!!! The Property Features Excellent Signage, Great Exposure, R6B Zoning, High 9’ Ceilings, (3) 3 Br. Apartments, Private Gated Driveway, Rear Yard, 6 Parking Spaces, Sprinklers, 200 Amp Power, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of Brooklyn Near I-278 (Belt Pkwy.), Atlantic Terminal, & The Barclays Center!!! The Property Is Situated Between Atlantic Ave. & Nostrand Ave.!!! Neighbors Include NYU Langone, Atlantic Center Mall, USPS, CubeSmart Self Storage, Stop & Shop, Planet Fitness, Ridgewood Savings Bank, AutoZone, Marshalls, Dave & Busters, Shell, Meineke Car Care Center, Family Dollar, McDonald’s, Chick-fil-A, Wonder, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Apt. 1 (3 Br., 2 Bath): $57,600 Ann.; Lease Exp.: 5/1/27.Apt. 2 (3 Br., 2 Bath): $54,000 Ann. M-M. Apt. 3 (3 Br., 2 Bath): $57,600 Ann. M-M. Gross Income: $169,200 Ann. Expenses: Gas: $0 Ann.Electric: $0 Ann.Water & Sewer: $3,872 AnnInsurance: $3,687 Ann. Taxes: $16,355.80 Ann. Total Expenses: $23,914 Ann. Net Operating Income (NOI): $145,286 Ann.

Details

MLS #1021663
Listing TypeFor Sale
StyleMulti-Family
Sub-TypeResale
StatusActive
Year2002
Days On Site54
Listing Provided ByAll Island Estates Realty Corp | Richard Matt Shane

Features

SQ Feet6,800
Units3
ZoningR6B
Acreage0.06

Interior

CoolingWall/Window Unit(s)
HeatingNatural Gas

Exterior

Construction MaterialsBrick, Frame

Parking

Parking FeaturesDriveway

Utilities

UtilitiesElectricity Connected, Natural Gas Available
SewerPublic Sewer

Taxes

Tax Year2025
Tax Assessed Value260820
Tax Annual Amount16355

Area Information

StateNY
CountyKings (Brooklyn)
CityBrooklyn
Zip Code11238
Listing VS Median (in 11238)
Price:
$2,888,000
low | high
Med:
$2,499,999
63.43493767313% of Average
sqft:
6,800
low | high
Med:
3,264
100% of Average
$ / sqft:
$425
low | high
Med:
$766
30.343879847645% of Average
On site:
54
low | high
Med:
162
33.333333333333% of Average
Sourced by Back At You

Market Activity 11238

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Learn More About This Property

Jeffrey Farnell

Jeffrey Farnell

John J Lease REALTORS

GRI (914) 850-1257jeffreygfarnell@yahoo.com
StateNY
CountyKings (Brooklyn)
CityBrooklyn
Zip Code11238
Listing VS Median (in 11238)
Price:
$2,888,000
low | high
Med:
$2,499,999
63.43493767313% of Average
sqft:
6,800
low | high
Med:
3,264
100% of Average
$ / sqft:
$425
low | high
Med:
$766
30.343879847645% of Average
On site:
54
low | high
Med:
162
33.333333333333% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $2.166M - $3.61M
sqft: 5,000 - 8,500
Nearby Listings Property ImageNearby Listings Details
498 Classon Avenue Property Photo 1
$2,888,000
498 Classon Avenue
Brooklyn, NY 11238
Listing Updated: August 12, 2026 at 11:52:18 AM PDT

Jeffrey Farnell - Smitchger Realty