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For Sale | MultiFamily Property

$2,225,000

553 Morgan Avenue, Brooklyn, NY 11222

Active
Last Updated: 01/27/2025

3,078 sqft

Building Size

R6B / C2-4

Zoning

Details:
Building Size:    3,078 sqft
Zoning:    R6B / C2-4
Highlights:
  • Value-Add Opportunity: There is significant upside in the rent roll that can be unlocked via renovations.
  • Owner-User Potential: The property would make a fantastic single family home conversion, or buyer could live in a portion of the building and collect rent from the rest
  • Quiet Residential Block: Situated on a quiet tree-lined residential block
  • Fully Free-Market: The property is fully free market, allowing future ownership to capitalize on neighborhood improvement.
  • Available Air Rights: There are roughly 725 SF of unused air rights for future expansion, development, or disposition.
  • Protected Tax Class: Tax Class 1 limits tax increase to no more than 6% per year or 20% over 5 years.
  • Neighborhood Amenities: Located within a few blocks of McGolrick Park, retail on Nassau and Driggs Avenues, and N. Brooklyn nightlife.
Map:
Documents:
Title
Offering Memorandum
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Location
Gallery