Updated 3 years ago
Sold
1234 Bushwick Ave
Bushwick, Brooklyn | Hancock Street & Weirfield Street
10 Rooms4 Beds3 Baths3,200 Square FeetMulti-Family
$1,375,000
floors / apts3 / 3
Lot Size20'x75'
Built Size20'x40'
ZoneR6
Building TypeTownhouse
RE Taxes$4,942
Price Per SF
$430
This property was sold for $1,375,000 on 10/20/23.
Outdoor space and views
- Backyard
- Balcony
- Patio
- Terrace
Building Amenities
- Voice Intercom
- Alarm System
Property Description for 1234 Bushwick Ave
No work needed! 1234 Bushwick Ave is a turnkey fully renovated three (3) unit multi-family building zoned R6 located in a Qualified Opportunity Zone in the bustling neighborhood of Bushwick, Brooklyn. This property is ideal for investors looking for income producing rent roll and incredible upside with a projected market CAP Rate easily eclipsing +/- 6.5%. Expenses are low including the annual real estate taxes are Tax Class 1 currently $5,239.
The building is three (3) stories tall and offers a full height basement. Sitting on a 20' x 75' lot the above grade total building size is approximately 3,200 SF including the basement with additional 1,245SF of FAR for development. Each unit is a floor-through offering multiple exposures for abundance natural sunlight and boasting private outdoor spaces with the first floor providing an expansive garden/backyard space and the 2nd and 3rd floor units offering high ceilings including large private terraces. Details were retained such as decorative fireplace and modern conveniences are present with the remote-controlled split-system for heating and cooling. The basement is currently setup for central laundry and common storage for the tenants with a potential to duplex with the 1st floor unit in the future for additional upside.
Located in the heart of Bushwick surrounded by restaurants, bars, shopping, and easy transit. The J/Z/L/C trains is minutes away at the Halsey St/Chauncey St/Wilson Ave and Rockaway Ave stations and the B26, B7, and Q24 are right outside. Please call/email for any questions and to obtain a full sales memorandum for the property.
All material herein is intended for information purposes only and has been compiled from sources deemed reliable. Though information is believed to be correct, it is presented subject to errors, omissions, changes, or withdrawal without notice. Buyer to verify all information.
The building is three (3) stories tall and offers a full height basement. Sitting on a 20' x 75' lot the above grade total building size is approximately 3,200 SF including the basement with additional 1,245SF of FAR for development. Each unit is a floor-through offering multiple exposures for abundance natural sunlight and boasting private outdoor spaces with the first floor providing an expansive garden/backyard space and the 2nd and 3rd floor units offering high ceilings including large private terraces. Details were retained such as decorative fireplace and modern conveniences are present with the remote-controlled split-system for heating and cooling. The basement is currently setup for central laundry and common storage for the tenants with a potential to duplex with the 1st floor unit in the future for additional upside.
Located in the heart of Bushwick surrounded by restaurants, bars, shopping, and easy transit. The J/Z/L/C trains is minutes away at the Halsey St/Chauncey St/Wilson Ave and Rockaway Ave stations and the B26, B7, and Q24 are right outside. Please call/email for any questions and to obtain a full sales memorandum for the property.
All material herein is intended for information purposes only and has been compiled from sources deemed reliable. Though information is believed to be correct, it is presented subject to errors, omissions, changes, or withdrawal without notice. Buyer to verify all information.
Listing History for 1234 Bushwick Ave
Now
10/20/2023
$1,375,000
Sold and Closed by Donald Lai
Corcoran
2023
Building Details for 1234 Bushwick Ave
OwnershipMulti-Family
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1915
Floors/Apts3/3
Transit and Citi Bike
Subway
Halsey St
0.11 miles
Chauncey St
0.4 miles
Gates Av
0.41 miles
Citi Bike
Broadway & Hancock St
0.11 miles
Eldert St & Bushwick Ave
0.12 miles
Bushwick | Brooklyn
Quick Profile
As one of the most diverse neighborhoods in New York, Bushwick offers a perfect snapshot of just how multicultural the city is. Long-established as an amalgam of cultures and ethnicities, a wave of varying types of immigrants trickled in from the seventeenth to twentieth centuries, with Bushwick largely becoming a home to Hispanics of Puerto Rican and Dominican backgrounds by the latter part of the twentieth century.
With the Bushwick Initiative of the mid-00s that aided in revitalization, it became an attractive area to young professionals and artists. And even now, Bushwick has sustained affordable rent prices where other North Brooklyn counterparts, like Williamsburg and Greenpoint, have become more expensive. Priding itself on the weird and the wacky, numerous art collectives thrive in this part of Brooklyn, once famously named the seventh coolest neighborhood in the world by Vogue.
Though it has drawn in many tourists in recent years (there’s even a graffiti tour you can take from the Bushwick Collective), the neighborhood remains very much community-oriented, and has not been subject to quite the same sort of corporate infiltration phenomenon of its nearby Williamsburg environs.
But yes, of course, Bushwick has come a very long way from its 80s and 90s reputation as being “The Well,” a nickname given to it for its free-flowing and widely available amount of drugs (quantity over quality being the cliche applied here).
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 57637TH
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