438 Franklin Ave Brooklyn, NY 11238
Bed-Stuy NeighborhoodEstimated payment $12,152/month
Total Views
6,509
6
Beds
5
Baths
4,414
Sq Ft
$453
Price per Sq Ft
Highlights
- Wood Flooring
- 3-minute walk to Franklin Avenue (A,C,S Line)
- 4-minute walk to John Hancock Playground
- High Ceiling
- No Heating
About This Home
PRIME LOCATION TOWNHOUSE w 12 rooms // 3 APARTMENTS
BED STUY/ CLINTON HILL 3 FAMILY TOWNHOUSE
LOCATION... LOCATION... LOCATION...
3 UNITS WITH FULL BASEMENT AND GARDEN
Built in 2009 and well maintained since, this three-family townhouse is in excellent condition. The property includes a 1,000 SF two-bedroom, one-bath unit on the first floor, and two 1,100 SF three-bedroom, two-bath units on the second and third floors—making it an outstanding investment opportunity.
With a maximum allowable FAR of 3.00 and an existing FAR of 2.15, zoning permits the addition of approximately 1,700 SF to the current 4,300 SF structure.
All units are separately metered, with tenants paying their own utilities. Each unit features its own boiler and hot water heater, in-unit washer and dryer, and dedicated storage space in the basement. This is a property you do not want to miss.
Asking price $2M; delivered with tenants in place.
=============
LEASES IN PLACE
* Apt 1: $3,200; Lease ends October 31, 2025
* Apt 2: $4,200; Lease ends July 31, 2026
* Apt 3: $3,600; Lease ends March 31, 2026.
==> TOTAL INCOME: $132,000 per year
EXPENSES
Property tax .......... $12 ,888 per year
Water / Sewer ..... $1,540 per year
Insurance ................. $2,840 per year
==>TOTAL EXPENSES: $17,268 per year
GROSS PROFIT: $114,732 per year
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $12,888
Year Built
- Built in 2009
Lot Details
- Lot Dimensions are 20.000000x100.000000
Home Design
- Triplex
Interior Spaces
- 4,414 Sq Ft Home
- 3-Story Property
- High Ceiling
- Wood Flooring
Bedrooms and Bathrooms
- 6 Bedrooms
- 5 Full Bathrooms
Laundry
- Dryer
- Washer
Utilities
- No Cooling
- No Heating
Community Details
- 3 Units
- Bedford Stuyvesant Subdivision
Listing and Financial Details
- Legal Lot and Block 42 / 01989
Map
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Home Values in the Area
Average Home Value in this Area
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 | $13,097 | $139,560 | $16,560 | $123,000 |
| 2024 | $13,097 | $110,220 | $16,560 | $93,660 |
| 2023 | $12,494 | $129,300 | $16,560 | $112,740 |
| 2022 | $12,281 | $110,460 | $16,560 | $93,900 |
| 2021 | $12,303 | $121,140 | $16,560 | $104,580 |
| 2020 | $5,770 | $146,880 | $16,560 | $130,320 |
| 2019 | $11,367 | $148,020 | $16,560 | $131,460 |
| 2016 | $9,739 | $48,717 | $13,004 | $35,713 |
| 2015 | $5,948 | $45,960 | $13,800 | $32,160 |
| 2014 | $5,948 | $45,283 | $12,196 | $33,087 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/19/2025 07/19/25 | Pending | -- | -- | -- |
| 07/19/2025 07/19/25 | Off Market | $2,000,000 | -- | -- |
| 07/12/2025 07/12/25 | Pending | -- | -- | -- |
| 07/12/2025 07/12/25 | Off Market | $2,000,000 | -- | -- |
| 07/05/2025 07/05/25 | Pending | -- | -- | -- |
| 07/05/2025 07/05/25 | Off Market | $2,000,000 | -- | -- |
| 06/28/2025 06/28/25 | Pending | -- | -- | -- |
| 06/28/2025 06/28/25 | Off Market | $2,000,000 | -- | -- |
| 06/21/2025 06/21/25 | Pending | -- | -- | -- |
| 06/21/2025 06/21/25 | Off Market | $2,000,000 | -- | -- |
| 06/14/2025 06/14/25 | Pending | -- | -- | -- |
| 06/14/2025 06/14/25 | Off Market | $2,000,000 | -- | -- |
| 06/07/2025 06/07/25 | Pending | -- | -- | -- |
| 06/07/2025 06/07/25 | Off Market | $2,000,000 | -- | -- |
| 05/31/2025 05/31/25 | Pending | -- | -- | -- |
| 05/28/2025 05/28/25 | For Sale | $2,000,000 | 0.0% | $453 / Sq Ft |
| 05/28/2025 05/28/25 | Off Market | $2,000,000 | -- | -- |
| 04/30/2025 04/30/25 | For Sale | $2,000,000 | 0.0% | $453 / Sq Ft |
| 04/30/2025 04/30/25 | Off Market | $2,000,000 | -- | -- |
| 03/24/2025 03/24/25 | For Sale | $2,000,000 | -- | $453 / Sq Ft |
Source: Real Estate Board of New York (REBNY)
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $1,975,000 | -- | |
| Deed | $1,975,000 | -- | |
| Deed | $740,000 | -- | |
| Deed | $740,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $854,561 | Purchase Money Mortgage | |
| Closed | $854,561 | Purchase Money Mortgage | |
| Previous Owner | $585,800 | Purchase Money Mortgage | |
| Previous Owner | $300,000 | No Value Available | |
| Previous Owner | $200,000 | No Value Available |
Source: Public Records
Similar Homes in Brooklyn, NY
Source: Real Estate Board of New York (REBNY)
MLS Number: RLS20011264
APN: 01989-0042
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