Excellent development site or great rental income opportunity in prime Prospect Heights! This rare offering comes with 2 parcels that are included in the sale, and incredible possibilities for the investor. Parcel 1 is offered for $2,800,000, with Parcel 2 available for only an additional $199,000, greatly expanding the potential. On Parcel #1 (Block 1153/Lot 1) sit 3 structures, on a spacious 5,100+/- square foot lot. The front building is comprised of a ground-floor commercial store with a residential apartment above. The current deli/grocery store has a 3-year lease that expires in 2023. The residential unit is occupied but does not have a lease, and features a living room, kitchen, 2 bedrooms and a full bath. The middle structure is a vacant 3-story single-family house with a rear yard, living room, dining room, kitchen and half bath on the 1st story, 5 bedrooms and a full bath on levels 2 and 3, plus a full unfinished basement. At the rear of the parcel is another vacant house, a 2-story single-family with a front yard, living room, kitchen and half bath on level 1, 2 bedrooms on the upper floor, and a full basement as well. R6B zoning and 2.0 FAR allow for 12,000+/- square feet of total buildable square footage which affords so many options! Parcel #2 (Block 1153/Lot 70) is a vacant lot, measuring 25' x 42'17" (1,000 +/- square feet). Another way of capitalizing on the valuable vacant lot would be expansion of the one-family home, or creating an incredible side-yard paradise. However the property is used, the location is outstanding. Minutes to the shops and eateries along Vanderbilt and Washington Avenues, and in close proximity to enchanting Prospect Park.

Building type: Semi-Detached

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119 Underhill Ave, Brooklyn, NY 11238

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