Excellent Investment Opportunity – Mixed-Use Building in Gravesend, Brooklyn
Don't miss this exceptional investment opportunity to own a well-maintained mixed-use brick building featuring three residential apartments and one commercial storefront, located in the highly desirable M1-1 zoning district in Gravesend, Brooklyn.
Situated in one of South Brooklyn's historic and established neighborhoods, this property benefits from excellent visibility and high foot traffic. It is conveniently located just a 5-minute walk to the F train, with easy access to local shopping, restaurants, and other commercial amenities. The property is also just minutes from Coney Island and major highways, providing a convenient commute to Manhattan and other parts of New York City.
All three residential units are rented at market rates, with one apartment scheduled to be delivered vacant at closing, offering flexibility for an owner-occupant or the opportunity to secure a new tenant at current market rents.
This investment offers strong income potential with low operating expenses. Each unit has its own separate gas and electric meters (4 gas meters and 4 electric meters total), allowing tenants to pay their own utilities. The property has been meticulously maintained, including an excellent-condition utility room and a roof protected by a 30-year metal roofing warranty.
Property Highlights:
Mixed-use building with 3 residential units and 1 commercial storefront
M1-1 zoning
Well-maintained brick construction
Three market-rate residential rentals
One unit delivered vacant at closing
Four separate gas meters
Four separate electric meters
Tenants pay their own utilities
Utility room in excellent condition
Roof with 30-year metal protection warranty
Prime Gravesend location near the F train, shopping, Coney Island, and major highways
Highly motivated seller
This is an outstanding opportunity for investors seeking stable rental income, long-term appreciation, and a prime Brooklyn location.
For sale
$1,800,000
1023 McDonald Avenue, Brooklyn, NY 11230
5beds
1,873sqft
Triplex, Multi Family
Built in 1920
-- sqft lot
$1,768,600 Zestimate®
$961/sqft
$-- HOA
What's special
Well-maintained brick constructionOne commercial storefrontThree residential apartmentsWell-maintained mixed-use brick building
- 48 days
- 197
- 2
Zillow last checked:
Listing updated:
Listed by:
Houlihan Lawrence Inc. 914-328-8400,
Olivia M. White 718-930-5653,
Olivia M. White 718-930-5653,
Houlihan Lawrence Inc.
Source: OneKey® MLS as distributed by MLS GRID,MLS#: 1029553
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 3
- Full bathrooms: 3
Heating
- Natural Gas
Cooling
- None
Features
- Granite Counters, High Ceilings, Marble Counters, Natural Woodwork, Original Details
- Flooring: Ceramic Tile, Concrete, Hardwood, Tile
- Windows: Aluminum Frames, Blinds, Double Pane Windows, Insulated Windows
- Basement: See Remarks
- Has fireplace: No
Interior area
- Total structure area: 1,873
- Total interior livable area: 1,873 sqft
Property
Parking
- Parking features: None
Features
- Patio & porch: Porch
- Fencing: Back Yard,Fenced,Full
- Has view: Yes
- View description: None
Lot
- Size: 1,874 Square Feet
Details
- Parcel number: 054220004
- Special conditions: None
- Other equipment: None
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Other
- Property subtype: Triplex, Multi Family
- Attached to another structure: Yes
Materials
- Brick
Condition
- Actual
- Year built: 1920
- Major remodel year: 1920
Utilities & green energy
- Gas: Separate Gas Meters: 4
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Trash Collection Public, Water Available, Water Connected
Community & HOA
Location
- Region: Brooklyn
Financial & listing details
- Price per square foot: $961/sqft
- Tax assessed value: $323,550
- Annual tax amount: $3,090
- Date on market: 7/24/2026
- Cumulative days on market: 49 days
- Listing agreement: Exclusive Right To Sell
- Listing terms: Contract
- Electric utility on property: Yes
Estimated market value
$1,768,600
$1.68M - $1.86M
$3,423/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/24/2026 | Price change | $1,800,000+44%$961/sqft |
Source: | ||
| 9/5/2024 | Price change | $1,250,000-8.7%$667/sqft |
Source: StreetEasy #1588482 Report a problem | ||
| 7/29/2024 | Listed for sale | $1,369,000+6.2%$731/sqft |
Source: StreetEasy #1588482 Report a problem | ||
| 11/10/2023 | Listing removed | -- |
Source: StreetEasy Report a problem | ||
| 11/9/2022 | Price change | $1,289,000-0.8%$688/sqft |
Source: | ||
| 3/2/2022 | Listed for sale | $1,299,000-6.5%$694/sqft |
Source: | ||
| 10/1/2021 | Listing removed | -- |
Source: | ||
| 4/22/2021 | Price change | $1,390,000-7.3%$742/sqft |
Source: | ||
| 2/25/2021 | Listed for sale | $1,499,000+7.1%$800/sqft |
Source: | ||
| 1/1/2021 | Listing removed | -- |
Source: BNYMLS Report a problem | ||
| 10/30/2020 | Price change | $1,399,000-4.8%$747/sqft |
Source: Neuhaus Realty Inc. #444115 Report a problem | ||
| 9/29/2020 | Listed for sale | $1,470,000+673.7%$785/sqft |
Source: Neuhaus Realty Inc. #444115 Report a problem | ||
| 1/4/2000 | Sold | $190,000$101/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $9,964 +7.5% | $269,550 -18.3% |
| 2024 | $9,273 | $329,940 +20% |
| 2023 | -- | $274,950 +20% |
| 2022 | -- | $229,050 -15% |
| 2021 | -- | $269,550 -8.4% |
| 2020 | $7,686 +8% | $294,300 +18.7% |
| 2019 | $7,117 | $247,950 +369.3% |
| 2018 | -- | $52,832 +8% |
| 2017 | $6,222 -1.3% | $48,920 |
| 2016 | $6,302 | $48,920 +3.2% |
| 2015 | $6,302 +66.2% | $47,400 +8% |
| 2014 | $3,791 | $43,890 |
Find assessor info on the county website
Monthly payment
Climate risks
Neighborhood: Kensington
Nearby schools
Schools provided by the listing agent
- Elementary: Ps 192 Magnet School-Math And Sci
- Middle: Jhs 223 Montauk (The)
- High: Franklin Delano Roosevelt High School
Source: OneKey® MLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.







