1169 38TH Street

Beautiful "Brooklyn-Chic" Legal 3 Family Investment Property for Sale. Over a decade ago I was introduced to this building by the two young men who had bought and renovated it. They were proud of their work. They should have been, as I was amazed. Before me were three large, beautifully crafted, eclectically nuanced units boasting very high ceilings, open designs, and roomy bedrooms, with copious exposed brick mixed with preserved original detail. The area was not well known at the time, so I suggested they hold off selling. Fast forward to today, all of their brilliant work has survived and is ready for a public that now appreciates the location. 1169 38th Street, on the border of Borough Park and Kensington, boasts three legal units of over 1000 sq ft, each with ceilings approaching 10 feet, exposed brick, original woodwork, well-designed kitchens and baths, and two roomy bedrooms. The garden unit has access to a beautiful back yard plus a rec room in the basement. The building mechanicals have been impeccably maintained, with 100 amps for each apartment, a laundry room for the tenants, a brand new hot water heater, and a recently installed boiler. Each of the tenants have enjoyed the building for years; the top floor tenant is leaving after a decade, the garden floor tenant has been in residency for six years, and the second floor tenant has been there for three. This is a prize opportunity for an investor to capitalize on a pristine treasure of a building that has stood the test of time in a location just now blossoming with value. Or this may be the perfect opportunity for a new home owner seeking to defer the high costs of ownership through strong rental income. The top floor will be vacant!