1197 Flatbush Avenue Brooklyn NY 11226 MLS #500362

Welcome to this mixed-use brick building located in the heart of Flatbush, offering a compelling investment opportunity with both retail and residential income streams. The property features a ground-floor commercial storefront along a busy Flatbush Avenue corridor, providing excellent visibility and consistent foot traffic. The residential component consists of two spacious three-bedroom, one-bathroom apartments, with tenants responsible for their own utilities, including heat, hot water, electric, and cooking gas. Both residential units are currently occupied without long-term leases, with one unit on a month-to-month basis, offering flexibility for future repositioning or rent optimization.
The property is zoned R7A, allowing for mid-rise residential development, and offers the potential to fully extend the first floor to maximize lot coverage, enhancing retail or commercial use and overall income potential.
Conveniently located near major transportation options, including the B and Q subway lines at Church Avenue and the 2 and 5 trains at Flatbush Avenue–Brooklyn College, the property provides easy access to Manhattan and throughout Brooklyn. Multiple bus lines, including the B35, B41, and B44, further enhance accessibility.
The surrounding area is rich in amenities, with nearby schools such as P.S. 249 and Erasmus Hall High School, as well as Brooklyn College just a short distance away. Flatbush Avenue offers a vibrant mix of restaurants, cafes, and local shops, contributing to strong tenant demand and long-term neighborhood stability.
This is an excellent opportunity for investors seeking immediate cash flow with significant upside potential through rent growth and future development possibilities.