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$ 1,900,000
Est. payment /mo
New
488 Classon AVE Brooklyn, NY 11238
8 Beds
4 Baths
2,025 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 952816
Bedrooms 8
Full Baths 4
Rental Info No
Year Built 1899
Annual Tax Amount $2,300
Lot Size 2,025 Sqft
Acres 0.0465
Property Sub-Type Duplex
Source onekey2
Property Description
A rare and highly flexible Brooklyn asset offering both immediate income and long-term upside, 488 Classon Avenue presents an outstanding opportunity for investors, end users, or hybrid buyer-occupants seeking value, scale, and optionality. Legally a two-family property and currently utilized as three units, this residence delivers strong in-place cash flow while remaining positioned for future optimization. Set within an R6B zoning district, the property allows for multiple strategic paths, whether your objective is income stabilization, value-add enhancement, or thoughtful repositioning over time.
The building is configured with two identical residential floors plus a full lower level, a layout that investors appreciate for its operational efficiency and end users value for its flexibility. The mirrored upper floors provide consistent room sizes, natural light, and functional layouts that lend themselves seamlessly to modernization or long-term rental use. The repetition of the design simplifies renovation planning and supports scalable upgrades, while the lower level currently contributing to income—adds further versatility for storage, recreation, work-from-home space, or alternative use depending on buyer strategy and compliance preferences.
From an end-user perspective, this property shines as a classic mortgage-hack opportunity: live comfortably in one unit while offsetting your monthly housing cost with rental income from the others. The layout supports privacy, separation of space, and long-term livability, making it ideal for buyers who want ownership in Brooklyn without carrying the full financial burden alone. As rents rise and the neighborhood continues to mature, the asset naturally evolves from owner-occupied to pure investment with ease.
Interior spaces feature solid proportions, strong ceiling heights, and excellent natural flow, with a mix of updated finishes and clear potential for cosmetic enhancement. Several rooms have been virtually staged to illustrate how effortlessly the property can be elevated to meet modern tenant and owner expectations, maximizing both rent potential and resale appeal.
Located on Classon Avenue, the property benefits from a well-established residential setting surrounded by classic Brooklyn architecture, neighborhood conveniences, and consistent tenant demand. The area offers access to local dining, shopping, transportation, and community amenities, while continuing to attract reinvestment and long-term appreciation. This balance of livability and demand is precisely what underpins durable rental performance and resale strength.
Whether approached as a buy-and-hold investment, a value-add play, or a live-in income-producing residence, 488 Classon Avenue stands out as a strategic acquisition in a supply constrained market. It is not merely a property, but a platform, one that rewards both disciplined investors and savvy end users with vision.
The building is configured with two identical residential floors plus a full lower level, a layout that investors appreciate for its operational efficiency and end users value for its flexibility. The mirrored upper floors provide consistent room sizes, natural light, and functional layouts that lend themselves seamlessly to modernization or long-term rental use. The repetition of the design simplifies renovation planning and supports scalable upgrades, while the lower level currently contributing to income—adds further versatility for storage, recreation, work-from-home space, or alternative use depending on buyer strategy and compliance preferences.
From an end-user perspective, this property shines as a classic mortgage-hack opportunity: live comfortably in one unit while offsetting your monthly housing cost with rental income from the others. The layout supports privacy, separation of space, and long-term livability, making it ideal for buyers who want ownership in Brooklyn without carrying the full financial burden alone. As rents rise and the neighborhood continues to mature, the asset naturally evolves from owner-occupied to pure investment with ease.
Interior spaces feature solid proportions, strong ceiling heights, and excellent natural flow, with a mix of updated finishes and clear potential for cosmetic enhancement. Several rooms have been virtually staged to illustrate how effortlessly the property can be elevated to meet modern tenant and owner expectations, maximizing both rent potential and resale appeal.
Located on Classon Avenue, the property benefits from a well-established residential setting surrounded by classic Brooklyn architecture, neighborhood conveniences, and consistent tenant demand. The area offers access to local dining, shopping, transportation, and community amenities, while continuing to attract reinvestment and long-term appreciation. This balance of livability and demand is precisely what underpins durable rental performance and resale strength.
Whether approached as a buy-and-hold investment, a value-add play, or a live-in income-producing residence, 488 Classon Avenue stands out as a strategic acquisition in a supply constrained market. It is not merely a property, but a platform, one that rewards both disciplined investors and savvy end users with vision.
Location
State NY
County Kings (brooklyn)
Rooms
Basement See Remarks
Interior
Interior Features Open Kitchen, Other
Heating Natural Gas, Other
Cooling Varies by Unit
Fireplace No
Exterior
Parking Features On Street
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, See Remarks
Garage false
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
Elementary Schools Ps 56 Lewis H Latimer
High Schools Brooklyn 16
School District Brooklyn 16
Others
Senior Community No
Special Listing Condition None
Listed by NEXTHOME FINEST FIRST • Andrew Jepson
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Mortgage values are calculated by Lofty and are for illustration purposes only, accuracy is not guaranteed.
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