493 Clinton Ave, Brooklyn, NY 11238

Description

Prime Clinton Hill Multifamily Investment With Major Development Upside - 493 Clinton Ave

493 Clinton Avenue is a rare four-story multifamily opportunity positioned in the heart of Clinton Hill, one of Brooklyn's most desirable and architecturally rich neighborhoods. Located directly above the G, C, and A subway lines, the building offers exceptional transportation access, making it highly attractive for current and future tenants.

The property contains 11 rent-stabilized apartments generating $209,285.52 in annual income, with a legal potential rent roll of $242,549.16, providing immediate revenue stability with built-in upside. Several units have been partially renovated, improving rental appeal while maintaining long-term regulatory consistency.

Sitting on a 37.08' 120' lot, the structure currently occupies 22' 65', totaling 5,740 sq ft. With an FAR of 4.0, the site offers a maximum buildable area of 17,800 sq ft, leaving over 12,000 sq ft of unused development rights. The property is not landmarked and not in a historic district, allowing flexibility for expansion or full-scale redevelopment.

Additional features include a curb cut, private driveway and rear garage, an extremely valuable amenity in this part of Brooklyn.

This building will NOT be delivered vacant. Buyer assumes all tenants.

Neighborhood Highlights - Clinton Hill Clinton Hill is known for its tree-lined streets, historic brownstones, cultural institutions, and vibrant community atmosphere. Residents enjoy:
A thriving restaurant and café scene, with everything from modern bistros and neighborhood bars to long-established eateries, offering diverse cuisines and lively street activity.
Proximity to Pratt Institute, infusing the area with creative energy, public art, and a steady demand for quality housing. Green spaces and playgrounds, providing a peaceful residential feel amid the urban setting.
Boutique shops, local markets, and independent retailers that contribute to the neighborhood's distinct character.
Close access to Fort Greene, Downtown Brooklyn, and Prospect Heights, placing additional entertainment, cultural venues, and commercial corridors just minutes away.
Clinton Hill continues to see strong demand from renters and investors alike, making 493 Clinton Ave an exceptional opportunity combining stable income, substantial development potential, and prime location.