1924 Fulton St
Brooklyn, NY 11233
Multifamily Property For Sale · 3 Units

1924 Fulton Street presents a compelling opportunity for investors seeking a mixed-use building that combines stable income, strategic positioning, and meaningful value-add potential. Situated on the active south side of Fulton Street between Buffalo and Ralph Avenues, the property benefits from continual pedestrian activity and strong neighborhood commerce. The area is supported by exceptional transit access, with the C train located directly across the street, providing reliable connectivity for both residential tenants and local businesses.
The ground-floor retail space is currently occupied by a beauty salon with a lease extending through August 2028, offering continuity for an investor while still providing repositioning flexibility upon expiration. The residential floors consist of a well-appointed three-bedroom apartment on the second level and a pair of updated units on the third floor. Each unit features contemporary finishes such as wood flooring, stone counters, and stainless steel appliances, complemented by generous natural light and functional layouts suited to a broad range of renters. Individually metered utilities and tenant-paid heating and hot water contribute to operational efficiency and support favorable margins.
Beyond its in-place income, the property offers notable future upside. The zoning framework allows for more than seven thousand square feet of total buildable area, unlocking substantial development optionality for both short-term and long-term strategies. Additionally, nine years remain on a 421-a tax abatement, further enhancing cash flow and positioning the asset as an attractive long-term hold.
With its balance of stable tenancy, renovated interiors, transit-oriented location, and significant development potential, 1924 Fulton Street stands out as a highly adaptable mixed-use offering in a consistently strong Brooklyn corridor.