NOT LISTED FOR SALE

1247 Avenue U Brooklyn, NY 11229

Homecrest Neighborhood

Estimated Value: $1,698,042

Studio
-- Bath
3,900 Sq Ft
$435/Sq Ft Est. Value

Last Sold October 06, 2023

Last sale price $1,600,000 $410 Per Sq Ft

Est. 6% increase in value since last sale

Current estimated payment $9,859/month

Highlights

  • Wood Flooring
  • 2-minute walk to Avenue U (Q Line)
  • Hot Water Heating System
  • Jhs 234 Arthur W Cunningham Rated A-

About This Home

As of October 2023

Welcome to this remarkable mixed-use building located in the neighborhood of Homecrest. Spanning three stories with two residential units situated above a spacious retail store. Each residential unit features 3 bedrooms, 1 bathroom, and large living rooms, ideal for comfortable living. The entire building has undergone renovation just a few years ago, ensuring that all aspects of the property are up-to-date. The retail store occupies a full-sized space, measuring 20x100, providing abundant room for various business ventures. Building size 20x100 over Lot size 20x105. Annual property tax $12,740. The location offers easy access to a variety of amenities, including shops, restaurants, schools, and public transportation options (Q train, B3, and B68 buses). Don't miss the opportunity to own this well-maintained mixed-use building. Whether you're an investor seeking an income-generating property or a business owner looking for a prime retail space, this property has it all!

Last Agent to Sell the Property

Kelly Wu

RE/MAX Edge License #10401268467 Listed on: 06/13/2023

RE/MAX Edge

Last Buyer's Agent

Kelly Wu

RE/MAX Edge License #10401268467 Listed on: 06/13/2023

RE/MAX Edge

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $12,740

Year Built

  • Built in 1928

Lot Details

  • 2,100 Sq Ft Lot
  • Lot Dimensions are 105 x 20
  • Irregular Lot
  • Property is zoned R5

Home Design

  • Mixed Use
  • Flat Roof Shape
  • Brick Exterior Construction
  • Poured Concrete

Interior Spaces

  • 3,900 Sq Ft Home
  • 3-Story Property
  • Basement Fills Entire Space Under The House

Flooring

  • Wood
  • Tile

Utilities

  • Hot Water Heating System
  • Heating System Uses Gas
  • 110 Volts
  • Gas Water Heater

Community Details

  • 2 Units

Listing and Financial Details

  • Tax Block 7317

Property Details

Property Type

Other

Est. Annual Taxes

$12,740

Year Built

Built in 1928

Lot Details

2,100 Sq Ft Lot

Listing Details

  • Basement Amenities: Full
  • Borough: Brooklyn
  • Building Length: 100.00
  • Building Width: 20.00
  • Commercial Condo Y N: No
  • Commercial Features Exterior: Doors - 10 ft and under
  • Commercial Features Interior: Heated, Restrooms - Staff, Other
  • Confirmed By M L S Y N: Yes
  • Cross Street: Homecrest Ave
  • Cross Street Name2: East 13th St
  • Heat Delivery: Hot Water
  • Negotiate Thru: Broker
  • Number Of Families: 2
  • Parking Feature Single: None
  • Property Sub Type: Mixed Use
  • Prop. Type: Mixed Use
  • Fill Sq Ft Total: 3900
  • Building Stories: 3
  • Street Name I D X: Avenue U
  • Year Built: 1928
  • Special Features: None
  • Stories: 3

Interior Features

  • Flooring: Hardwood, Tile, Other
  • Lot Sq Ft: 2100

Exterior Features

  • Yard: None
  • Exterior Building Type: Attached
  • Construction Type: Brick
  • Exterior: Brick
  • Foundation Details: Poured Concrete
  • Lot Number: 41
  • Roof: Flat

Utilities

  • Electric: 110 V
  • Heating Fuel: Gas
  • Hot Water: Gas

Lot Info

  • Lot Size Irregular: Yes
  • Lot Size Length: 105
  • Lot Size Width: 20
  • Zoning: R5

Tax Info

  • Flip Tax Amount: 12740.00

Multi Family

  • Unit Count: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 13, 2023
Closed on
Oct 6, 2023
Sold by
Ave U Realty Group Inc
Bought by
Nguyen Thanh Hung International Llc
Seller's Agent
Kelly Wu
RE/MAX Edge
Buyer's Agent
Kelly Wu
RE/MAX Edge
List Price
$2,450,000
Sold Price
$1,600,000
Premium/Discount to List
-$850,000
-34.69%
Views
43
Current Estimated Value
$1,698,042

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$98,042
Avg. Annual Appreciation
2.55%

Purchase Details

Closed on
Sep 30, 2013
Sold by
Alison'S Land Company Inc
Bought by
Ave U Realty Group Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$330,000
Interest Rate
4.52%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 5, 1997
Sold by
Ottolenghi Renato and Ottolenghi Marie
Bought by
Alisons Land Company Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$216,000
Interest Rate
7.7%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Nguyen Thanh Hung International Llc $1,600,000 --
Nguyen Thanh Hung International Llc $1,600,000 --
Nguyen Thanh Hung International Llc $1,600,000 --
Ave U Realty Group Inc $930,000 --
Ave U Realty Group Inc $930,000 --
Alisons Land Company Inc $333,500 First American Title Ins Co
Alisons Land Company Inc $333,500 First American Title Ins Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Ave U Realty Group Inc $330,000
Previous Owner Alisons Land Company Inc $216,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/06/2023 10/06/23 Sold $1,600,000 -34.7% $410 / Sq Ft
06/13/2023 06/13/23 Pending -- -- --
06/13/2023 06/13/23 For Sale $2,450,000 -- $628 / Sq Ft
Source: Brooklyn Board of REALTORS®

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $13,340 $106,200 $19,500 $86,700
2024 $13,340 $112,020 $19,500 $92,520
2023 $12,863 $99,000 $19,500 $79,500
2022 $11,857 $91,260 $19,500 $71,760
2021 $13,015 $80,820 $19,500 $61,320
2020 $12,419 $79,560 $19,500 $60,060
2019 $11,579 $79,560 $19,500 $60,060
2018 $10,759 $52,780 $15,523 $37,257
2017 $10,656 $52,276 $16,479 $35,797
2016 $10,303 $51,540 $19,500 $32,040
2015 $4,817 $50,052 $18,591 $31,461
2014 $4,817 $37,842 $17,225 $20,617
Source: Public Records

Agents Affiliated with this Home

  • Kelly Wu

    Seller's Agent in 2023

    Kelly Wu

    RE/MAX Edge

    (917) 345-6368

    7 in this area

    227 Total Sales

    Kelly Wu
    Section Image
See All Agents

Map

Source: Brooklyn Board of REALTORS®

MLS Number: 474667

Brooklyn Board of REALTORS®

APN: 07317-0041

New York Kings County Brooklyn 11229 Homecrest

1247 Avenue U, Brooklyn, NY

Not Listed for Sale

Other

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Brooklyn Board of REALTORS® The property information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed. The data relating to real estate for sale on this web site comes in part from the participating Brokers.

Nearby Homes
Your Personal Tour Guide

Ask me questions while you tour the home.